GERMANY: Holsten no longer for sale
Holsten Brauerei has brought talk of its potential sale to a close. The brewer announced yesterday that it had been unable to find a new buyer for a majority stake in the company. Holsten also said that its management has ended a strategic review of its ownership structure.
In a statement reported by Reuters, the brewer said: "There has been no concrete approach that would have been to the benefit of the company, shareholders or employees."
A report in Focus magazine last week claimed that Carlsberg and Bitburger Brauerei were planning a joint takeover of Holsten. The magazine said that a bid of over €550m (US$658.8m) had been received by Holsten's largest shareholder, Christian Eisenbeiss.
Shares in the brewer fell by 12% as investors dumped their stock following the announcement.
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