GLOBAL: Carlsberg, Heineken in talks to buy Scottish & Newcastle
By just-drinks.com editorial team | 17 October 2007
Carlsberg and Heineken have confirmed that they are in early discussions to look to acquire Scottish & Newcastle.
The two global brewers made the announcement earlier today (17 October) in response to what they described as "the recent share price movement of Scottish & Newcastle".
"Carlsberg and Heineken are in discussions regarding the formation of a consortium to make an offer for the entire issued share capital of Scottish & Newcastle," the companies said. Were the two to make an offer, then this would be in cash.
"It is currently intended that Carlsberg will ultimately acquire Scottish & Newcastle's interest in (S&N's joint venture with Carlsberg) Baltic Beverages Holding, France and Greece and that Heineken will ultimately assume control of Scottish & Newcastle's business in the UK and other European markets."
The brewers noted, however, that no formal approach has yet been made to S&N. "There can be no certainty that an offer for Scottish & Newcastle will ultimately be forthcoming," Carlsberg and Heineken concluded.
A further announcement is expected "in due course".
When contacted by just-drinks today, a spokesperson for Carlsberg declined to comment further. "Due to the codes of the takeover panel in the UK, we are not allowed to add anything further to this announcement," the spokesperson said.
No-one was immediately available at Heineken or S&N this morning.
Sectors: Beer & cider
Companies: Carlsberg, Heineken, S&N, Baltic Beverages Holding
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Spotlight - The Battle for S&N
The announcement earlier this week that Carlsberg and Heineken are discussing making a bid for Scottish & Newcastle came far too early for the two European brewers. With no bid having been actually made, it's likely that Carlsberg and Heineken will have to pay a fair bit above the odds to take control of S&N.
There are currently 3 comments on this article
In addition to my very old friend's and colleague's ( on the other side of the globe - alex osorio) oppinion, I just have to point at the possible interest of Heineken & Carlsberg to get control as well on brands and operations included in the portfolio of S&N on the continent. For example Mythos in Greece and Kronenbourg in France. Both operations are giving some hard times to the potential buyers in this countries. Maybe we are going to see a new split in influence of European Countries between the 2 big players. West Europe + Iberian peninsula for the Dutch and North and East for the Danish. Who else has room to play??? At least I am not active any more in the market, so i have a possible clear view of what's going on. We are going to witness a lot of mayor changes in the next 2 - 3 years in the Brewing business.
alex karamalegos - greece said at 10:48 pm, November 26, 2007
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