Carlsberg Divests Local Operations

Danish brewer Carlsberg has announced the sale of its 20% stake in Israel Beer Breweries to CBC Group, Carlsberg's partner in Israel and Romania, in a deal worth US$36mn. Israel Beer Breweries was founded in 1992 by the two companies, with CBC Group the majority owner. Under the terms of the agreement, the Israeli brewer will continue to produce the Carlsberg and Tuborg brands for the local market. Carlsberg also sold its 95.6% stake in Türk Tuborg Bira ve Malt Sanayi to CBC, bringing the combined value of the two transactions to US$116mn. Carlsberg has stated that it is 'optimizing

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