- 19 -
and Burgermeister beer brands, as well as all related light
products; (4) 100,000 kegs in addition to the kegs which were
included as part of the breweries in Perry and Portland;
(5) $10 million in surplus assets selected by petitioner and
Heileman; (6) petitioner's office building and related parking
areas in Milwaukee, Wisconsin; (7) nonbrewery assets which
included certain surplus bottles and real estate situated in
Milwaukee; (8) net working capital aggregating at least $30
million; (9) Olympia's brewery in San Antonio, Texas; (10) the
Lone Star and Buckhorn (Texas) beer brands and related light
products; (11) real estate in the State of Washington; and
(12) any other assets listed in the Allocation Agreement.
In addition to its surrender of the shares which were
canceled, Heileman assumed a $3.48 million liability for certain
industrial development revenue bonds (IDB's) as consideration for
the distribution of the assets. The IDB's represented financing
for the Olympia Lone Star brewery in San Antonio, which was
transferred to Heileman as part of the Transferred Assets.
Petitioner also paid Heileman $4.25 million in cash on March 18,
1983, in redemption of 400,005 shares of stock in petitioner
(approximately 5 percent of petitioner's outstanding shares)
acquired by Heileman prior to the tender offer, and petitioner
added these shares to its treasury stock. Heileman had
previously paid $7,607,325 to acquire these shares. In addition,
petitioner and Heileman entered into a 5-year manufacturing
Page: Previous 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 NextLast modified: May 25, 2011