Carlsberg Estonia Increases Stake in Saku Õlletehas to over 90%
FLEXNEWS (France)
July 2, 2008
Carlsberg Estonia Holding has boosted its share holding of Estonia brewery Saku Olletehase to more than 90% in a deal worth in excess of EUR 17 million, with a view to buying the remaining share in the future.
The Danish-based brewing giant had announced a mandatory takeover bid for the shares on 29 May, a statement from Saku Olletehas said. The term for acceptance of the buyout expired on 26 June.
Saku shareholders agreed to sell some 1.3 million shares – constituting 17.4% - to Carlsberg for EUR 12.4 each. The purchase bring Carlsberg's stake to 92.4% and it will “initiate actions for the squeeze-out of remaining minority shareholders in accordance with Article 1821 of the Securities Market Act and de-listing of the shares”, said Saku.
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