EC: EC gives go-ahead for S&N takeover of Portugal's second largest brewer
Brussels said that S&N had only a marginal presence in the local wholesale market and the deal would not change the Portuguese beer sector. S&N will share control of Centralcontrol with VTR SGPS SA, a holding company representing Banco Espirito Santo, Parfil, Fundaçao Bissaya Barreto, Olinveste and STDP.
Centralcer has about 38% of the Portuguese beer market at the retail level. Its main brand is Sagres with a share of around 34%.
Other brands include Topazio, Cergal and Golden. The other big player in Portuguese beer is Unicer with 60% of the market.
Both companies were criticised in June by the Portuguese Competition Council for "anti-competitive practices regarding exclusive distribution contracts with wholesalers, namely abuse of economic dependence and resale price fixing."
Fitch Ratings has cut its debt rating on brewer, Scottish & Newcastle (S&N), from BBB to BBB-minus....
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