S&N falls at last to Carlsberg, Heineken

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

At £7.6 billion, the 800p-a-share deal is far ahead of the value of the business when talks first began in October.

Carlsberg gets the 50% stake in Russian brewer BBH that it did not already own, as well as S&N's French, Greek, Chinese and Vietnamese operations.

Heineken gets the UK and Irish arms as well as small businesses in other parts of Europe.

S&N chief executive John Dunsmore is expected to walk away with £3 million, reward for a feisty defence of the company that forced the bidders to increase the offer several times.

Carlsberg chief executive Jorgen Buhl Rasmussen said: "This is a truly transformational transaction for Carlsberg. In a single step we have created the world's fastest growing brewer."

Carlsberg is particularly glad to have taken control of BBH, seen as S&N's most valuable property.

With beer sales in the UK sluggish, Heineken will have to revitalise the John Smith's and Newcastle Brown Ale brands.

Carlsberg is planning a £3 billion rights issue to funds its half of the deal. It provided most of the extra cash after the original 720p offer was declined. A counterbid from rivals such as SABMiller is possibile but bankers for Carlsberg and Heineken are likely to enter the market today to mop up shares.

With debt and pension liabilities, the deal's value nears £10 billion.