It is £200m more than Carlsberg’s previous offer in mid-June, which valued the capital at no more than £3.1bn
Danish brewer Carlsberg, seeking to diversify its products, announced today the acquisition of British soft drinks maker Britvic for 3.3 billion pounds (3.9 billion euros), two weeks after an earlier bid was rejected.
“The boards of Carlsberg Group and Britvic PLC today announced that they have reached an agreement on the terms of the offer (…) made by Carlsberg UK, a wholly owned subsidiary of Carlsberg, to acquire all of the common shares of Britvic issued and to be issued,” the Danish group said in a statement.
In the acquisition of Britvic, which in addition to its own brands also bottles products of the American Pepsico for the British market, its capital is estimated at 3.3 billion pounds sterling (about 3.9 billion euros). It is £200m more than Carlsberg’s previous offer in mid-June, which valued the capital at no more than £3.1bn.
Britvic shareholders will be offered a 7.9% premium to Friday’s closing price and more than 36% to the share price a month ago. Britvic mainly produces Robinson brand juices, Tango soft drinks and in France Teisseire syrups.
Including Britvic’s debts of almost £700m as of March 31, the company’s total value comes to £4.1bn (€4.8bn).
“The proposed transaction creates an enlarged international group, which is well-positioned to take advantage of growth opportunities in the drinks sector,” Britvic chairman Ian Durand said in a statement released by London Stock Exchange.
Britvic’s share on the London Stock Exchange was up 4.21% today shortly after 10:30 Greek time) and Carlsberg’s was up 3.34% in Copenhagen.
Source: Skai
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