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Buy-side capital markets advisory to Carlsberg in its public tender offer and market purchases of Türk Tuborg

Carlsberg Breweries A/S is one of the world’s major international brewing operations, and Carlsberg and Tuborg are two of the most widely sold beer brands on a global scale. Carlsberg Breweries has a total workforce of approximately 27,000 people, if all associated companies are included. It sells its products in about 150 markets. The core business of Carlsberg Breweries is the production and sale of beer and soft drinks. More than 94% of beer sales are achieved outside Denmark. International brewing operations include the export of beer brewed in Denmark, as well as local brewing at 90 production sites in 45 countries. The Carlsberg and Tuborg beer brands are produced by 60 companies in 42 countries.

Carlsberg Breweries initially acquired a 48% stake of the total share capital from Yasar Holding. The parties have estimated the total value of Türk Tuborg to be approximately DKK 960 million. Then Carlsberg has increased its stake further by certain open market purchases and mandatory public tender offer.

The acquisition fits perfectly with Carlsberg Breweries’ strategy of becoming the majority owner in breweries with strong positions in interesting growth markets. As majority owner of Türk Tuborg, it has been agreed that Carlsberg Breweries will take over management and operation responsibilities. Türk Tuborg’s distribution company Bimpas is also included in the transaction. Türk Tuborg employs a total of about 850 people (when including Bimpas).