Molson, Inc. denies buying Brazil's Kaiser - Brief Article

Modern Brewery Age, March 11, 2002

Executives from Canada's Molson, Inc. denied reports that the company had signed a $1 billion agreement to buy Kaiser, the largest brewer in Brazil. Heineken had been considered the lead bidder for Kaiser, since it already holds a 14% stake in the company. But Coca-Cola Bottlers holds a 75% interest in Kaiser and has not been a willing seller.

"We have not acquired that company," Robert Coallier, Molson CFO, told Reuters. But Coallier refused to comment on whether Molson had held talks with Kaiser.

Molson entered the Brazilian market in 2000, buying five breweries under the Bavaria name. Bavaria holds 3.5% of the country's beer market, while Kaiser has almost 15% share.