Italian brewer, Peroni, has finally been put up for sale, following a long period of speculation that it might be on the market. The estimated price tag will be about EUR 502m, The Business writes.

The company is likely to attract at least three of the 'usual suspects' in what could very well become the next big bidding frenzy in the global consolidation the world's brewery industry is currently involved in.

Carlsberg has earlier been identified by rumours as a potential bidder for Peroni. While the Danish company has declined to comment, it has confirmed its interest in shopping for new brewing companies.

Interbrew reportedly bought a 40 per cent stake in Peroni in February, a move obviously signalling interest.

And Scottish & Newcastle is Peroni's distributor in the UK for products including its flagship Nastro Azzuro brand since 2001, and has also been mentioned in previous speculation.

08 April, 2003