Carlsberg Breweries acquires controlling interest in Türk Tuborg
Carlsberg Breweries A/S has concluded an agreement to increase its shareholding in the Turkish brewery Türk Tuborg Bira ve Malt Sanayii A.S. from 2.24% to 50.01% by acquiring a 47.77% stake of the total share capital from Yasar Holding. The parties have estimated the total value of Türk Tuborg to be approximately DKK 960 million. Yasar Holding will retain about 15% of the share capital. Türk Tuborg is listed on the Istanbul Stock Exchange.
The agreement is concluded subject to a satisfactory due diligence process, a subsequent final agreement and approval by Turkish authorities. Further information will be provided when the agreement has been finalised.
The acquisition fits perfectly with Carlsberg Breweries' strategy of becoming the majority owner in breweries with strong positions in interesting growth markets. As majority owner of Türk Tuborg, it has been agreed that Carlsberg Breweries will take over management and operation responsibilities. Türk Tuborg's distribution company Bimpas is also included in the transaction. Türk Tuborg employs a total of about 850 people (when including Bimpas).
For Background Turk Tuborg, follow the enclosed link: