Carlsberg: S&N case has no merit

Related tags Baltic beverage holdings Arbitration Carlsberg

Carlsberg: S&N case has no merit
Carlsberg claims S&N's argument over Baltic Beverage Holdings is "frivolous"

Carlsberg has hit back at Scottish & Newcastle (S&N) claiming its case to wrest control of Baltic Beverage Holdings (BBH) is "frivolous"​.

The Danish brewer slammed S&N's case as having "absolutely no merit"​ after details of its argument were submitted to the arbitration tribunal.

Carlsberg said it would ask the tribunal to dismiss the case for being "totally unfounded"​.

S&N claims that Carlsberg breached its joint agreement in BBH after it launched a joint bid for the British brewer with Heineken.

S&N has entered its case for arbitration and hopes to gain full control of BBH. It estimates BBH could provide synergies of £100m for the company.

Jorgen Buhl Rasmussen, President and of Carlsberg, said:"We've seen nothing new of substance today - S&N continues to progress with a case that has absolutely no merit instead of focusing on the certainty of the cash value of the Consortium's proposal, which is the only deliverable means of maximising value for S&N's shareholders today."

The arbitration process could be over by 3 July and the Consortium have been given until 21 January to tie up a deal for S&N.

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