Germany’s largest brewer, Holsten Brauerei saw its share price fall sharply today following newspaper reports.
The Financial Times Deutschland reported that the company’s major shareholder Christian Eisenbeiss was struggling to find buyers for his 48% stake in the brewery. Holsten declined to comment. The news story prompted Holsten’s share price to fall as much as 12.12% to €38.01.
The paper claimed that industry and banking sources said that no potential buyers were interested in buying Eisenbeiss’s shares. It said that many investors had been scared off by a new government law affecting drinks cans. A 25% deposit on throwaway cans has been imposed affecting Holsten, whose beer is mainly sold in cans.
Shares in Holsten have gained 92.45% so far in 2003.
