E-Malt.com News article: 4126

USA: Adolph Coors Company announced on February 1 that at a special meeting of its stockholders on Tuesday, all of the steps necessary to complete the Company's merger with Molson Inc. were approved. All of the Company's Class A Common shares are held by the Adolph Coors, Jr. Trust and were voted in favor of the merger proposals. The Company's Class B Common shares are publicly held, and over 34.7 million of the outstanding shares were voted, with 33.5 million shares (92.4% of outstanding shares) voted in favor of the merger proposals.

Before adjourning the meeting, Peter Coors, Chairman of the Board, commented "This is a momentous time for our Company. We are very appreciative of the support shown by our shareholders for the joining together of two great beer companies and traditions -- Coors and Molson." He added "Coors and Molson were both founded by bold pioneers in their own time and our family looks at this merger as a pioneering step in its own right."

"We are extremely pleased that Coors shareholders recognize the compelling strategic and economic benefits of this merger," said Leo Kiely, chief executive officer of Coors. "We now expect to complete the transaction on February 9th, allowing us to quickly begin executing on the comprehensive integration plans we have been preparing. We are thankful for the support we've received from our shareholders, employees and customers, and are energized and confident as we move to capitalize on the great potential of this combination."

As previously announced, the final approval from the Quebec Superior Court will be sought on February 2, 2005. The closing of the merger is expected to occur on February 9, 2005 prior to the opening of the stock markets in Canada and the U.S. Additionally, earnings information for both companies will be released on February 9, 2005.

Together, Molson Inc. and Adolph Coors Company will form the fifth largest brewer in the world, with combined volume of 51 million barrels and pro-forma net sales of US$6 billion. The brewer will have a market capitalization of US$6 billion and a position of strength to become a future consolidator in the global brewing industry. It will have leading market share in Canada and in the U.K., a growth market in the U.S., and an emerging market in Brazil as well as a portfolio of well established brands such as Molson Canadian, Coors Light and Carling and other brands including Keystone, Aspen Edge, Zima, as well as Molson Ultra, Export, Molson Dry, Rickard's and Kaiser. Founded by pioneering families who are still active in the business and have deep roots in their respective countries, Molson Coors Brewing Company will have over 350 combined years of brewing excellence, 15 breweries and nearly 15,000 employees.

Founded in 1873, Adolph Coors Company is the world's eighth-largest brewer, with $5.4 billion in annual gross sales. Its principal subsidiary is Coors Brewing Company, the third-largest brewer in the U.S., with a beverage portfolio that includes Coors Light, Coors, Aspen Edge, Killian's, Zima XXX and the Keystone family of brands. The company's operating unit in the United Kingdom, Coors Brewers Limited, is the U.K.'s second-largest brewer, with brands that include Carling -- the best-selling beer in the U.K. -- Grolsch, Worthington's, Reef and the recently launched Coors Fine Light Beer.


02 February, 2005