Carlsberg has sold its stake in Denmark's Harboes Bryggeri. The company announced yesterday that it has sold its 29.07% stake in the brewery for DKK252m (US$41.6m).

Carlsberg, which acquired the shares in 1980, now has no shareholding in any other Danish breweries.

The announcement comes after Carlsberg said yesterday that it has launched the syndication of a loan to help fund its buyout of Orkla's stake in Carlsberg Breweries. The Danish company is looking for €1.6 billion to purchase Orkla's 40% holding in the brewery.

At the end of last year, Harboes posted a rise in pre-tax profit for the financial year 2003-2004 to DKK54.8m (US$8.9m) from DKK34.3m year-on-year, based on sales of DKK892.4m, up from DKK825m last year.