Scottish & Newcastle, Britain’s biggest brewer is planning to thwart Dutch and Danish rivals by refusing a takeover bid from £7,5 billon off Hartwall. Hartwall is the Finnish holding company behind its most valuable asset.
Heineken and Carlsberg who makes the following beers: Foster’s, John Smith’s and Kronenbourg, surprised last week S&N when they announced that they would takeover S&N and split the British brewer between them.
S&N’s board want to defeat the plan by selling 50% of the shares from BBH, its Russian beer business. With the selling of those shares S&N will receive £2,5 billion .
The other 50% shares of BBH are in hands of Carlsberg and they are keen to buy the other half. There will be a complex arrangement with Carlsberg.
According to the analysts a way to unlock the value in BBH is the key to S&N’s survival.
There are also other brewers who are interested such as Anheuser Busch, SAB Miller, the Spanish drinks giant Mahou San Miguel, which has a distribution deal with S&N in Brittain.
However, nobody will make a move until the Carlsberg-led bid is tabled. This is expected within 10 days.
Analysts put the value of BBH at £4.8 billion.
S&N would receive above 800 pound per share for BBH to have any chance of success.
(Tom Van thienen)
1 comment:
I have the impression that this will be a very difficult purchase, if there will be a purchase
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