Coors Plans to Create Holding Company: Adolph...

Coors Plans to Create Holding Company: Adolph Coors Co. said it plans to ask its shareholders to approve a proposal to create a holding company called Adolph Coors Cos. that would directly own Coors and its principal subsidiaries. The reorganization plan, which is subject to receipt of favorable rulings from the Internal Revenue Service, was disclosed in a registration statement filed earlier this week by Adolph Coors for an offering of $300 million in senior unsecured debt securities. Coors said the primary reason for the reorganization “is to establish a legal structure that conforms to the actual business operations of the company and its subsidiaries.” The proposal will be presented to Coors shareholders sometime this year, the company said.