October 19, 2017

Notice Concerning Transfer of Consolidated Subsidiaries' Shares

Suntory Beverage & Food Limited (SBF) hereby announces that its wholly owned subsidiary Suntory Beverage & Food Asia Pte. Ltd. (SBFA) which owns Cerebos Pacific Limited (CPL) has come to an agreement to transfer all the shares in CPL's three entities, operating the food and instant coffee business to The Kraft Heinz Company.

1． Reasons for the Transfer of Shares

In order to optimize Australia, New Zealand and Singapore business, CPL has come to an agreement to transfer all the shares of the subsidiaries operating food and instant coffee business in the above regions to The Kraft Heinz Company. The fresh coffee business will continue to be operated under the SBF Group to focus on capturing a larger share of the rapidly growing global fresh coffee market.

2． Overview of Transferring Subsidiaries

(1) Name

Cerebos (Australia) Limited

(2) Location

2 Costello Place, Seven Hills NSW 2147 Australia

(3) Businesses

Production and sale of food in Australia

(4) Major Shareholder & Holding Ratio

Cerebos Pacific Limited (100%)

(1) Name

Cerebos Gregg's Limited

(2) Location

2 Nuffield Street, Newmarket, Auckland 1023 New Zealand

(3) Businesses

Production and sale of food and instant coffee in New Zealand

(4) Major Shareholder & Holding Ratio

Cerebos Pacific Limited (100%)

(1) Name

Asian Home Gourmet (CPL) Pte Ltd

(2) Location

18 Cross Street #12-01/08, China Square Central, Singapore, 048423

(3) Businesses

Production and sale of food in Singapore

(4) Major Shareholder & Holding Ratio

Cerebos Pacific Limited (100%)

3． Overview of the The Kraft Heinz Company

(1) Name

The Kraft Heinz Company

(2) Location

One PPG Place Pittsburgh, PA 15222

(3) Representative

CEO: Bernardo Vieira Hees

(4) Businesses

Production and sale of packaged food

4． Transfer Price and Status of Share Ownership after the Transfer

(1) Transfer Price

Approx. 26 billion yen (Note)

(2) Number of Shares held after the Transfer

0 shares (Proportion of voting rights held: 0%)

Note: The price above is value of business evaluated (total value of 3 transferring subsidiaries), and the amount paid will be adjusted according to the contract at transfer completion.

5． Schedule

(1) Date of Definitive Agreement

October 19, 2017

(2) Transfer Date

First quarter of 2018 (Planned)

Subject to conditions including regulatory approvals from the agencies of antitrust in the required countries.

6． Other

Subject to conditions including regulatory approvals from the agencies of antitrust in the required countries, the transfer is scheduled to complete in the first quarter of 2018.

Suntory Beverage & Food Limited published this content on 19 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 19 October 2017 02:55:04 UTC.

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