Thursday March 27, 03:20 PM
Carlsberg signs MOU on possible sale of stake in Turk Tuborg UPDATE
(updating with info on Turk Tuborg, comments from Carlsberg (Copenhagen: DCARLB.CO - news) )
COPENHAGEN (Thomson Financial)
- Denmark's largest brewer Carlsberg AS said it has signed a memorandum of understanding with CBC Group, its partner in Romania and Israel, regarding a possible sale of its 95.65 pct stake in Turkish business unit Turk Tuborg Bira ve Malt Sanayi A.S.
Carlsberg said that the details of the transaction are still subject to discussion and a final agreement, adding that a further announcement will be made in due course.
According to Carlsberg, Turk Tuborg has 546 employees and a market share of 16.5 pct.
The company markets a number of brands including Carlsberg and Tuborg.
Carlsberg acquired the majority shareholding in Turk Tuborg in 2001.
Carlsberg spokesperson Jens Peter Skaarup confirmed that discussions with CBC Group have now commenced, but would not give any further information regarding the deal.
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