The Malaysian unit of Danish brewer Carlsberg said on Tuesday it has offered to buy Carlsberg Singapore Pte Ltd for 370 million ringgit ($105.5 million) in cash. Carlsberg Malaysia expects to complete the planned acquisition on or before November 1, it said in a statement to the Malaysian stock exchange. Carlsberg Singapore is a unit of Carlsberg Asia Pte Ltd, which in turn is a unit of Carlsberg, the holding company of Carlsberg Malaysia.
“The existing licence agreement between Carlsberg and Carlsberg Singapore will continue for a period of 20 years following the completion (of the acquisition),” Carlsberg Malaysia said in a statement. Carlsberg Malaysia managing director Soren Jensen told Reuters in an interview in April that the company had interest-bearing cash of about 227 million ringgit and was hunting for an acquisition target in Asia to diversify earnings.
