Ross says GK deal is just speculation'

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Related tags: Scotland, Debut albums, Greene king

Scottish brewer Belhaven has dismissed rumours that Greene King is set to complete a deal to buy it in June. Chief executive Stuart Ross said:...

Scottish brewer Belhaven has dismissed rumours that Greene King is set to complete a deal to buy it in June.

Chief executive Stuart Ross said: "There is absolutely no substance to that ­ it's just speculation.

"Belhaven is a public company and if anyone made a bid, management and shareholders would have to listen, but nobody has been talking to us. Belhaven is forging ahead to build a business of strategic importance to Scotland."

He added it was likely speculation had resurfaced following Wolverhampton & Dudley's £46m bid for Cumbrian brewer and retailer Jennings Brothers.

Analysts have claimed that Belhaven is an obvious strategic target for both Wolves and Greene King in time.

They have been doubtful, though, that any bid for Belhaven would be launched before the full impact of the smoke ban, which begins in May 2006 in Scotland, is understood.

Analysts believe that Greene King and W&D would have to operate a Scottish operation as semi-autonomous, which would not provide the same synergies as previous acquisitions.

Related topics: Greene King

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