UK: S&N in line with expectations, launches Hartwell bid
Leading UK brewer, Scottish & Newcastle reported today that it was trading in line with its expectations.
Saying that it was confident of the outlook for the enlarged group, S&N said trading in all divisions had continued to be in line with the board's hopes since 4 December 2001.
The brewer also said today that it had officially launched its exchange offer to shareholders in its Finnish takeover target Hartwall. The offer will run to May 28, unless the offer is extended. S&N announced the €2.1billion takeover offer in February.
The Hartwell board has recommended that shareholders except S&N's offer of 3.152 new shares for each series-A and series-K shares in Hartwall.
Hartwall is Finland's leading beer producer and an important soft drink company, but importantly holds half the shares in Baltic Beverages Holding (BBH), a high growth joint venture with Carlsberg Breweries operating in Russia, Estonia, Latvia, Lithuania and the Ukraine.
The new business will be a market leader in seven European countries, with sales totalling around €7.4 billion and control three of the continent's top ten beer brands Kronenbourg, Foster's and Baltika.
The takeover has already been approved by the European competition authorities.
Carlsberg has finally hooked up with a state-owned Vietnamese brewer....
Carlsberg's rating has been lowered following its disappointing Q1 figures earlier this week....
Carlsberg said today that global beer volume showed a 20% increase in the first quarter of the year driven by strong organic growth in BBH as well as a considerable contribution from acquisitions, inc...
Scottish & Newcastle and Carlsberg said today that their Eastern European joint venture Baltic Beverage Holdings had seen sales volumes lift 14% in the first quarter of the year, compared to the same ...
Carlsberg has appointed a managing director for its Chinese operations....
Carlsberg has increased its ownership in Carlsberg Brewery Malaysia Berhad from 49.66% to 51%. The investment amounts to approximately US$6m....
Baltika has bought into a Siberian brewer....
The Bosnian government has put a majority stake in the country's brewery Banjalucka Pivara up for sale. Previous efforts to privatise the brewer have failed....
- Comment - Diageo Spins the Guinness Wheel... Again
- Diageo's Labels Give Industry Something to Digest
- Comment - 'Craft' and the Danger of 'Romance Copy'
- Is A-B InBev/SABMiller 'Mega-Merger' Off?
- Who should Stock Spirits Acquire?
- Diageo lines up UK innovations push
- Craft is an 'abused' term - Pernod Ricard exec
- Pernod Ricard queries nutritional label use
- SPI Group 'disappointed' over Stolichnaya ruling
- Diageo's Guinness Golden Ale
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Champagne: Less Than Bubbly
- Beer Market Insights Africa 2014
- ALDI 2015: Radically transforming Anglo Saxon grocery markets