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Possible deal between giant beer companies could result in acquisitions for Carlsberg

If the world’s biggest two beer companies merge, competition authorities would force divestments


Carlsberg would attend the garage sale if the world's biggest two tie the knot, analysts say (Photo: Colourbox)

July 15, 2014
18:46

by Philip Tees


Berlingske Business writes that the market is buzzing with rumours that AB inbev will buy SABMiller to form a giant beer company – a deal that would be the world’s biggest corporate takeover – and that Carlsberg would be a major beneficiary.

It is believed that several companies in the group would need to be sold to satisfy various competition authorities, and that Carlsberg, with 100 billion kroner to play with, would be a prime candidate for making acquisitions.

Jonas Guldborg, a stock market analyst at Carnegie, told Berlingske that this is a likely scenario. “If such a big deal takes place, it will lead to divestments,” he said.

“Then Carlsberg would of course be looking at what comes up for sale. If it fits in with its strategy, I’m in no doubt that it will be interested.”

Big 4 becomes 3
Berlingske writes that the international beer market is dominated by four big players, of which Inbev and SABMiller are the biggest, with Heineken and Carlsberg completing the group. An analysis from Bernstein Research showed that the four account for 49 percent of the combined global sale of beer and 60 percent of all earnings.

Casper Blom, a stock market analyst at Handelsbanken, told Berlingske that Carlsberg would particularly look to the east for acquisition opportunities. “I’m quite sure that Carlsberg would get involved if there are possibilities in Asia,” he said.

“If something comes up for sale in the USA, Heineken seems like a more obvious buyer.”



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