S&N sells French division to reject takeover bid

Scottish & Newcastle has announced the sale of its underperforming French wholesale distribution business in yet another bid to fight its takeover by Carlsberg A/S and Heineken NV.

Scottish & Newcastle has announced the sale of its underperforming French wholesale distribution business in yet another bid to fight its takeover by Carlsberg A/S and Heineken NV.

S&N chief executive John Dunsmore announced that he “intends to take full control” of Baltic Beverages Holdings (BBH), its joint venture with Carlsberg, as the brewer continues to fend off the proposed Carlsberg and Heineken bid.

S&N is reported to have started arbitration aimed at forcing the Danish brewer to give up its stake in BBH, which owns Russia’s largest beermaker, and is said to be working with a minority partner to pay for a deal.

In its trading update today, S&N also announced that it is “confident” about earnings in 2008, with the French unit sale having an “immediate positive impact” on profit and cash flow. The brewer reported a drop of 3.1% in its first half pre-tax profit for the year.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here