GERMANY: Karlsberg to shift Tucan Holding control - report
German drinks group Karlsberg is looking to hand over control of its fruit juice operations holding company, according to local reports.
The company was cited in a report in Frankfurter Allgemeine Zeitung yesterday (17 December) as shifting Tucano Holding to its Mineralbrunnen Uberkingen-Teinach subsidiary. The move should be completed before the end of this year, the paper claimed. No-one was immediately available for comment at Karlsberg when contacted by just-drinks today.
Tucano generates an annual turnover of EUR75m (US$108m), compared with Uberkingen-Teinach's EUR130m, said the newspaper.
The transaction is set to be financed by the company's own funds, as it reportedly has an equity ratio of more than 48%.
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