The re-emergence of takeover speculation sent the shares of the Austrian brewers BBAG and Brau Union to all-time highs yesterday.
The leap was prompted by a report in Financial Times Deutschland, which said that Heineken was the leading contender to buy Austria’s biggest beer and soft drinks group BBAG, which is also the parent company of brewer Brau Union. The report cited unnamed Vienna financial sources.
Earlier this year BBAG said it was looking for a partner to help it become the largest brewer in Eastern and Central Europe.
The reports yesterday suggested that a decision on the new partner was imminent so it could be presented at BBAG’s shareholder’s meeting on June 5.
