Comments on: Alphabet Soup: A-B Enters the Fray Between S&N and CG for BBH http://brookstonbeerbulletin.com/alphabet-soup/ Jay R. Brooks on Beer Sat, 19 May 2012 07:22:05 +0000 hourly 1 http://beerzine.com/?v=3.3.2 By: J http://brookstonbeerbulletin.com/alphabet-soup/comment-page-1/#comment-1318 J Mon, 14 Jan 2008 16:49:24 +0000 http://www.brookstonbeerbulletin.com/alphabet-soup/#comment-1318 Stephen, Thanks for the clarification. As I said, I've only casually been paying attention. Stephen,

Thanks for the clarification. As I said, I’ve only casually been paying attention.

]]> By: Stephen Beaumont http://brookstonbeerbulletin.com/alphabet-soup/comment-page-1/#comment-1317 Stephen Beaumont Mon, 14 Jan 2008 14:39:42 +0000 http://www.brookstonbeerbulletin.com/alphabet-soup/#comment-1317 Just to clarify a bit, Jay, the Heineken/Carslberg bid is for S&N as an entity, not just BBH. The way the deal would work, Carlsberg would assume full control over BBH, plus receive S&N's French and Greek holdings. Heineken wouldn't get anything Russian out of the deal, but would receive the company's UK assets plus all other European holdings. For their part, S&N is saying that the Carlsberg portion of the bid violates the BBH "shotgun" clause and thus should allow them to force the sale of Carlsberg's 50% holding in the company. Problem is, S&N doesn't have the money to make that purchase, even assuming they won the current court case, so speculation is that they would sell a 25% stake to another company in order to finance the buy. This is where A-B is supposed to come in, although further speculation is that once S&N has majority ownership of BBH -- if, indeed, they can make that happen -- they would become a much more desirable takeover target. Then, perhaps, A-B bids on the company and gets the whole lot, including BBH, Kronenbourg and the largest domestic brewer in the UK. Just to clarify a bit, Jay, the Heineken/Carslberg bid is for S&N as an entity, not just BBH. The way the deal would work, Carlsberg would assume full control over BBH, plus receive S&N’s French and Greek holdings. Heineken wouldn’t get anything Russian out of the deal, but would receive the company’s UK assets plus all other European holdings.

For their part, S&N is saying that the Carlsberg portion of the bid violates the BBH “shotgun” clause and thus should allow them to force the sale of Carlsberg’s 50% holding in the company. Problem is, S&N doesn’t have the money to make that purchase, even assuming they won the current court case, so speculation is that they would sell a 25% stake to another company in order to finance the buy. This is where A-B is supposed to come in, although further speculation is that once S&N has majority ownership of BBH — if, indeed, they can make that happen — they would become a much more desirable takeover target. Then, perhaps, A-B bids on the company and gets the whole lot, including BBH, Kronenbourg and the largest domestic brewer in the UK.

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