Germany: In spite of being in debt, Holsten is planning to take over a non-alcoholic drinks company, according to reports. The German brewery group intends to up its holding in Heeman, according to German paper Handelsblatt.
Holsten already holds a 45% stake in the company through its subsidiary Hansa Bruggen but, Handelblatt says, it will use its option to purchase the remaining shares early next year.
Estimates suggest that after the takeover, Holsten’s total turnover on soft drinks will reach around Ђ350m. The company currently has debts of around Ђ300m. One possibility is that Holsten is planning the takeover should it need to sell parts of its business to reduce this debt.
23 December, 2003
