Heineken has begun making payments to stakeholders of local brewery Desnoes and Geddes (D&G) who have accepted its takeover offer.
According to the deal broker, NCB Capital Markets, payments are expected to be completed in the shortest possible time.
Heineken’s acquisition of D&G, which operates as Red Stripe Jamaica, forms part of the company’s focus on increasing its earnings in markets outside of Europe.
The announcement was made last November that it planned to spend up to $194-million to acquire all outstanding shares in D&G.
Based on the arrangement, minority owners will be paid 26 US cents per share.