Carlsberg Malaysia plans to buy Carlsberg Singapore
KUALA LUMPUR, July 28 |
KUALA LUMPUR, July 28 (Reuters) - The Malaysian unit of Danish brewer Carlsberg (CARLb.CO) said on Tuesday it has offered to buy Carlsberg Singapore Pte Ltd for 370 million ringgit ($105.5 million) in cash.
Carlsberg Malaysia (CBMS.KL) expects to complete the planned acquisition on or before November 1, it said in a statement to the Malaysian stock exchange.
Carlsberg Singapore is a unit of Carlsberg Asia Pte Ltd, which in turn is a unit of Carlsberg, the holding company of Carlsberg Malaysia.
"The existing licence agreement between Carlsberg and Carlsberg Singapore will continue for a period of 20 years following the completion (of the acquisition)," it said in a statement.
Carlsberg Malaysia managing director Soren Jensen told Reuters in an interview in April that the company had interest-bearing cash of about 227 million ringgit and was hunting for an acquisition target in Asia to diversify earnings.[ID:nKLR391088]
($1=3.508 Malaysian Ringgit)
(Reporting by Julie Goh; Editing by Soo Ai Peng)
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