Carlsberg to Acquire Waterloo Brewing for C$144 MillionDecember 14, 2022
Waterloo Brewing Ltd. (TSX: WBR) – ("Waterloo Brewing" or the "Company") entered into a definitive arrangement agreement with Carlsberg Group ("Carlsberg") pursuant to which Carlsberg has agreed to acquire all of the issued and outstanding shares of Waterloo Brewing for an aggregate equity value of approximately C$144 million, on a fully diluted, in-the-money, treasury method basis. The transaction will be effected by way of a statutory plan of arrangement under the Business Corporations Act (Ontario) and is subject to customary closing conditions including approval of the Ontario Superior Court of Justice and by holders of Company shares and options at a special meeting expected to be held in late February 2023.
Wildeboer Dellelce LLP acted for Waterloo Brewing with a team that included Charlie Malone, Ragu Anantharajah, Joel Fraser and Kassidy Doherty (corporate/securities/mergers and acquisitions) and Katy Pitch, Colin Romano (tax).
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