Carlsberg to buy big German brewery

20th January 2004, Comments 0 comments

20 January 2004 , COPENHAGEN - Brewery giant Carlsberg was set to expand further Tuesday after announcing an offer to buy Germany's second-largest brewery company, Holsten-Brauerei. Carlsberg said its offer for Holsten-Brauerei was worth roughly EUR 1.065 billion. Hamburg-based Holsten was established in 1879. Its Holsten brand is one of the fastest growing international beer brands, according to a 2002 report from analysis institute Canadean, the Danish business newspaper RB-Borsen reported. Holsten brewe

20 January 2004

COPENHAGEN - Brewery giant Carlsberg was set to expand further Tuesday after announcing an offer to buy Germany's second-largest brewery company, Holsten-Brauerei.

Carlsberg said its offer for Holsten-Brauerei was worth roughly EUR 1.065 billion.

Hamburg-based Holsten was established in 1879. Its Holsten brand is one of the fastest growing international beer brands, according to a 2002 report from analysis institute Canadean, the Danish business newspaper RB-Borsen reported.

Holsten breweries also markets several other beer brands that have a strong regional market in northern Germany.

Germany is considered the world's third largest beer market after the United States and China.

The Danish-Norwegian group said the take-over would likely have a slight negative impact on the financial results for 2004, but would be neutral in 2005 and in 2006 fulfil Carlsberg's required yields.

Carlsberg's offer was worth EUR 38 per share, an 8.6 percent higher price than the closing price Monday, RB-Borsen said.

The deal also needs approval from regulatory authorities and 75 percent of Holsten's shareowners. Carlsberg has negotiated mainly with owner family Eisenbeiss. The management of Holsten was reportedly not involved in the talks.

DPA
Subject: German news 

 

0 Comments To This Article