Molson Coors Brewing Company (NYSE: TAP; TSX: TPX) today reported 7.0 percent higher net sales and an 8.0 percent increase in underlying after-tax income for the second quarter 2012, driven by positive performance in our U.S. business and the inclusion of two weeks of Molson Coors Central Europe (MCCE) operations in reported results in 2012. Underlying earnings per share from continuing operations increased 12.2 percent to $1.38 per diluted share, which includes $19.7 million of underlying pre-tax income for two weeks of MCCE results, partially offset by $5.0 million of acquisition-related interest expense in Corporate, as well as fewer shares outstanding this year. Net income from continuing operations attributable to Molson Coors (a U.S. GAAP earnings measure) decreased 53.5 percent due to MCCE-related financing and acquisition costs. These costs have been excluded from underlying results. See the Special and Other Non-Core Items section of this release. Molson Coors Brewing Company’s acquisition of StarBev was completed on June 15. The final purchase price was €2.7 billion, the equivalent of $3.4 billion, including the assumption and payoff of pre-existing StarBev debt. The purchase was funded with $300 million in bank debt, $1.9 billion in senior unsecured notes, $601 million in cash, and a €500 million zero-coupon convertible note issued to the seller with a fair value of €511 million, or $646 million, at closing. The purchase price represents a multiple of 10.8 times 2011 pro forma underlying EBITDA. Molson Coors president and chief executive officer Peter Swinburn said, “We completed the Central Europe acquisition in the second quarter, which we see as a strategically compelling and financially attractive transaction. We expect this acquisition to increase shareholder value toward the early part of our 3-to-5 year return range. This significantly enhances our growth profile with leading brands in the Central European markets, which we believe have promising potential both for our top line and bottom line.