Holsten has sold its stakes in two German breweries. German rival Bitburger has bought out Holsten's holdings in Licher Privatbrauerei and Konig-Brauerei, leaving Holsten to focus on its business in northern Germany.

The sale is subject to agreement at Holsten's general meeting.

Holsten sold its water and soft drinks business earlier this month when it sold its 65.1% stake in Hansa-Brunnen AG of Rellingen to Lange-HANSA-Holding GmbH of Wohltorf.