Carlsberg's proposed bid for Holsten has been given the green light by Germany's securities regulator. The Danish brewer announced yesterday that BAFin has approved its offer document for Holsten shareholders.

Last month, the Danish brewer announced that it had entered into conditional agreements to acquire 51% of the share capital in Holsten at €38 per share from the Eisenbeiss family and other parties. Carlsberg also said it would make a voluntary public offer at the same price to buy all outstanding shares. The offer price values the company at €523 million based on 13.75 million issued Holsten shares.

The takeover is contingent on Carlsberg getting 75% of Holsten shares. The acceptance period will run from 12 February to 18 March.