Carlsberg to acquire remaining 33% stake in Carlsberg South Asia from partner in USD 744-million deal
Carlsberg has said it will acquire the remaining 33.33 per cent stake in Carlsberg South Asia Pte. Ltd. (CSAPL) from its partner CSAPL (Singapore) Holdings Pte. Ltd in a deal valued at USD 744 million. CSAPL is the holding company for the Carlsberg's businesses in India (100 per cent) and Nepal (90 per cent), through its shareholding in Gorkha Brewery Private Limited (GBPL).
CSAPL Holding's 33.3 per cent shares is under the control of Singapore resident C P Khetan, with whom the company was having disputes.
«Carlsberg has signed an agreement to acquire the remaining 33.33 per cent shareholding in CSAPL from our partner CSAPL (Singapore) Holdings,» said a statement by the brewing major.
In addition, as part of this transaction, CSAPL has entered into an agreement to acquire a further 9.94 per cent of the shares in GBPL.
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«Following completion of the proposed transactions, Carlsberg will own 100 per cent of the existing business in India and, through CSAPL's shareholding in GBPL, 99.94 per cent of the existing business in Nepal,» it said.
The total purchase price for the proposed transactions amounts to USD 744 million, which is subject to adjustments pursuant to the transaction documents, it added.
«Of the USD 744 million, USD 207 million will be retained by Carlsberg and will be released dependent on potential claims under the SPA (likely after 3-5 years),» the statement
Carlsberg Group CEO Jacob Aarup-Andersen said, «We are
