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EU General Court Reduces Fine in Heineken Dutch Competition Case


June 16, 2011 - London

Amsterdam, 16 June 2011 - Heineken N.V. today announced that the General Court of the European Union in Luxembourg has largely upheld the finding of the European Commission dated 18 April 2007, which found that Heineken and other Dutch brewers violated EU competition rules during the period 1996 - 1999.

 

However, the General Court has decided to reduce the initial fine of €219 million imposed on Heineken in 2007 by €22 million. In line with EU regulations, the €219 million fine was paid in full in July 2007 and reported as an exceptional item at the time. The €22 million refund announced today will be treated as an exceptional item in the 2011 financial statements. 

 

Jean-François van Boxmeer, Chairman of the Executive Board/CEO of Heineken N.V. commented: "We are disappointed that the General Court has not accepted all of our arguments, but we appreciate that the Court has reduced the amount of the original fine."

 

Heineken will consider its options once it has studied the full text of the Court's decision.

 

Heineken mandates 100 percent compliance with applicable competition law and the company's competition law policy wherever it does business. For many years, the company has implemented an ongoing global compliance programme, actively involving all relevant employees.

Press enquiries
John-Paul Schuirink
Tel: +31 20 5239 355
john-paul.schuirink@heineken.com

Investor and analyst enquiries
Jan van de Merbel/George Toulantas
Tel: +31 20 5239 590
investors@heineken.com

About Heineken:

Heineken is one of the world's great brewers and is committed to growth and remaining independent. The brand that bears the founder's family name - Heineken - is available in almost every country on the globe and is the world's most valuable international premium beer brand. The Company's aim is to be a leading brewer in each of the markets in which it operates and to have the world's most valuable brand portfolio. The Company is present in over 70 countries and operates 140 breweries with volume of 205 million hectolitres of beer sold in 2010 on a pro-forma basis. Heineken is Europe's largest brewer and the world's third largest by volume. Heineken is committed to the responsible marketing and consumption of its more than 200 international premium, regional, local and specialty beers and ciders. These include Amstel, Birra Moretti, Cruzcampo, Dos Equis, Foster's, Kingfisher, Newcastle Brown Ale, Ochota, Primus, Sagres, Sol, Star, Strongbow, Tecate, Tiger and Zywiec. On a 2010 pro-forma basis, including FEMSA Cerveza, revenue totalled €17 billion and EBIT (beia) was €2.7 billion. The average number of people employed is more than 70,000. Heineken N.V. and Heineken Holding N.V. shares are listed on the Amsterdam stock exchange. Prices for the ordinary shares may be accessed on Bloomberg under the symbols HEIA NA and HEIO NA and on the Reuter Equities 2000 Service under HEIN.AS and HEIO.AS. Most recent information is available on Heineken's website: www.heinekeninternational.com.

 

 

 

Click here to open the press release.



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Heineken N.V. via Thomson Reuters ONE

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