ORK - Carlsberg Breweries A/S signs final agreement on purchase of majority shareholding in Türk Tuborg, Turkey

6 July: On 31st May 2001, Carlsberg Breweries A/S and Yasar Holding agreed that Carlsberg Breweries could buy the majority shareholding - 50.01 per cent - in the Turkish brewery Türk Tuborg Bira ve Malt Sanayii A.S. (Türk Tuborg). Conclusion of the agreement was subject to a satisfactory due diligence, a subsequent final agreement and approval by Turkish authorities.

Due diligence has been finalised and the parties have signed a final agreement, which has also been approved by the Turkish authorities, the Competition Board and the Foreign Investment Board.

As majority shareholder Carlsberg Breweries is obliged under Turkish law to issue a public tender for the remaining share capital. Carlsberg Breweries has 15 days to decide the share price and work out the conditions for the public tender.