Heineken And Carlsberg To Buy Beamish

Heineken & Carlsberg announced their offer to buy Scottish & Newcastle (S&N), the parent company of Beamish & Crawford on Friday.

The offer values S&N at £8 (€10.74) per share and is being recommended to the shareholders by S&N's Board.

Completion will be subject to a vote by the shareholders of S&N, both Irish and European legal and regulatory authorities and confirmation by Heineken and Carlsberg's own shareholders.

It is expected that this deal will be completed by mid-2008.

Heineken intend to acquire S&N's businesses in UK, Ireland, Portugal, Finland, Belgium, US, Venture Markets and India. Carlsberg intend to acquire S&N's 50% share of BBH, plus businesses in France, Greece, China and Vietnam.