Scottish Newcastle who are Britain’s leading brew manufacturers owning brands like Foster’s beer, Newcastle Brown ale and Strongbow cider, and also having 37 and a half percent stake in United Breweries Limited, accepted the offer from Carlsbery and Heineken on Friday.

Under the agreement the share holders will receive 800 pence in cash for each S&N share. The deal will result in break-up of Scottish & Newcastle assets; Carlsberg , Danish brewing giant will control the French, Greek, Chineese and Viatnamese operations of the country while Heineken the Dutch brewing giants will get control of the UK and Ireland, Portuguese, Finish, Belgian, US and Indian operations of Scottish & Newcastle.

Carlsberg will also benefit by the transfer of the British firm’s share of Baltic Beverages Holding AB, a fast growing company in Russia. Carlsberg is paying 54.5 percent and the balance amount will be borne by Heineken.
On the deal, Mr. Jorgen Buhl Rasmussen said “This is a truly transformational transaction for Carlsberg creating the world’s fasted growing global brewer. We now have full control of our destiny in Russia and other BBH territories and I am truly excited about the new opportunities this will present us”

Chairman and CEO Mr. Jean-Francois van Boxmeer said “This is a significant strategic step for Heinken It gives us undisputed leadership in Europe and creates significant opportunities in profitable markets to grow the premium Heineken brand. Our ability to create value from mature markets coupled with the step-change in revenue growth will drive our future expansion.

However, unions are seeking job guarantees from Heinken, as it will get UK operations, for the 3,300 staff of S&N. But till now there is no comment on the said matter.

Dr. Vijay Mallaya, chairman of UB Group said, “ While The UB Group has had an excellent and productive relationship with Scottish and Newcastle Plc, we welcome the fact that Heinken will be a potential shareholder of United Breweries Limited on terms that are yet to be discussed.”

According to UB group’s president and chief financial officer, Mr. Ravi Nedungadi, he dosent think that this development will trigger an open offer, and that Heinken will probably get the share holding in UB.
 

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