Asia Pacific Breweries unit takes over Rock Ember

The brewery acquired 75% stake of Rock Ember Limited from CHC Trustees.

Asia Pacific Breweries Limited announced on Monday that the Company's indirect subsidiary in New Zealand, Barworks Group Limited (BGL) has acquired a 75% stake in Rock Ember Limited (REL), a company incorporated in New Zealand, from CHC Trustees Limited. The remaining 25% stake in REL will be held by a third party, RockEmber Catchpole Investments Limited (RCIL). BGL is a subsidiary of DB Breweries Ltd which is 100% owned by the Company, according to an Asia Pacific Breweries report.

REL is BGL's and RCIL's joint investment vehicle for food and beverages outlets in New Zealand. The consideration for the acquisition of the 75% stake in REL, reached on a willing seller willing buyer basis, is NZ$150, and has been paid by BGL in cash on completion. The issued and paid-up capital of REL is NZ$200.