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April 15, 2003

UK: S&N linked with Portuguese acquisition

According to reports in the UK, the brewing group, Scottish & Newcastle (S&N), is in the advanced stages of negotiations to acquire full control of the Portuguese beer company, Central de Cervejas, in which it already has a 49% participation.

According to reports in the UK, the brewing group, Scottish & Newcastle (S&N), is in the advanced stages of negotiations to acquire full control of the Portuguese beer company, Central de Cervejas, in which it already has a 49% participation.

S&N is reportedly set to pay £100m for the remaining 51% in the company, with that figure including a control premium. It paid £90.6m for the 49% it acquired in August 2000.

It is thought likely that the deal will be funded through debt and analysts have suggested that this could put further pressure on S&N to reduce its dividend.

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