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Last Updated: Tuesday, 8 January 2008, 08:41 GMT
S&N hopes for Russia brewer deal
Baltika lager
Russian beer Baltika is one of BBH's brands
Scottish & Newcastle has said it would benefit by 100m a year if it took full control of BBH, the Russian brewer it jointly owns with Carlsberg.

The UK brewer's comments came as it submitted a claim to an arbitration tribunal, which will decide if S&N can acquire Carlsberg's 50% stake in BBH.

S&N is currently fighting a takeover approach from Heineken and Carlsberg.

S&N says Carlsberg's involvement in the bid move breaches the joint deal on BBH and allows it to buy Carlsberg out.

Carlsberg has previously said that S&N's claims on BBH had "no merit".

Bitter battle

The Heineken-Carlsberg consortium has made a 750p-a-share approach for S&N, an offer that the UK brewer has rejected as "wholly inadequate".

The UK's Takeover Panel has issued a deadline of 21 January for the Heineken-Carlsberg group to make a formal bid.

If the consortium is successful in its bid for S&N, Carlsberg plans to take full control of BBH.

However, S&N is taking Carlsberg to court in Sweden, arguing that by taking part in the bid approach it has triggered a clause in the BBH agreement that allows the wronged party to buy out the other firm's shares in BBH at a fair market price.

In its submission to the court, S&N also said that taking full control of BBH would allow it to enjoy cost and revenue benefits of 100m a year.

A decision on the issue is due by 3 July.



SEE ALSO
Suitors get deadline for S&N bid
17 Dec 07 |  Business
Battling S&N plans cost savings
20 Nov 07 |  Business
S&N rejects improved bid approach
15 Nov 07 |  Business
S&N turns down 'derisory' offer
25 Oct 07 |  Business
Row brews over Russian beer pact
24 Oct 07 |  Business

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