Molson Coors Down 4.7% After Acquiring StarBev
Molson Coors Brewing Company (NYSE: TAP) is trading lower after the company announced that it will acquire StarBev for $3.45 billion. StarBev has brewing operations in the Czech Republic, Serbia, Croatia, Romania, Bulgaria, Hungary, Montenegro and also sells its brands in Bosnia-Herzegovina and Slovakia.
Peter Swinburn, President and Chief Executive Officer of Molson Coors said, “The acquisition of StarBev fits squarely into Molson Coors' strategy to increase our portfolio of premium brands and deepen our reach into growth markets around the world. The Central and Eastern European beer market is attractive, with strong historical trends and upside potential as the region returns to its pre-economic-crisis growth rates.
Molson Coors is currently trading at $43.50, a gain of $2.16 or 4.73%.
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