GERMANY: Holsten sale to Bitburger approved
Holsten's proposed sale to the Bitburger Group has been given the go-ahead. The General Assembly of Holsten, Carlsberg's German subsidiary, today approved the sale of breweries König-Brauerei in Duisburg and Licher Privatbrauerei in Lich to Bitburger at a total enterprise value of €469 m. This deal is expected to be completed as soon as possible.
The German competition authorities have approved Holsten's sale of the water business Hansa-Brunnen to Lange-HANSA-Holding GmbH, meaning that this deal can now be closed.
Carlsberg is selling Holsten activities at a total enterprise value of €645 m. Due to the increased sales price of the water business compared to the originally expected price, the net acquisition price of the assets which Carlsberg retains is reduced from €437 m to €420 m.
In a statement, Nils S. Andersen, president and CEO of Carlsberg, said: "I am very satisfied that we have achieved a higher price than expected for the water business and that the selling of the König and Licher breweries most likely will be closed soon.
"Together with the staff reduction recently announced by Holsten, this means that we can now concentrate on improving the operation of Holsten," he added.
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