Charlie’s Group Limited


Transaction Type: Takeover (Compulsory acquisition)

Offeror: Asahi Beverages New Zealand Limited

Independent Adviser(s): Grant Samuel & Associates (Rule 21)

Offer commencement date: 21/07/2011

Offer closing date: 2/09/2011


On 4 July 2011, Asahi Beverages New Zealand Limited (Asahi) gave notice of its intention to make a full takeover offer for all the shares in Charlie’s Group Limited (Charlie’s). All major shareholders had signed a lock-in agreement that they would accept the offer.

The takeover offer was despatched on 21 July 2011, with Asahi offering 44 cents for each share in Charlie’s. The closing date for the offer was extended from 19 August 2011 to 2 September 2011.

On 12 August 2011, Asahi became the holder or controller of more than 90% of the voting rights in Charlie’s and declared the offer unconditional.

Asahi commenced the compulsory acquisition process on 19 August 2011, and completed the process on 16 September 2011, holding 100% of the shares in Charlie’s. 


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