The Financial Week Ahead - Newswatch: Bass brewing lucrative deal.
Fortune appears to be shining on hotels, pubs and brewing-giant Bass. The extended millennium celebrations are sure to have boosted income, while South African Breweries has also held talks over acquiring the brewing side of the business. Shareholders will debate the move – which could net Bass a tidy profit for the business valued at £1.8bn – when they meet later today. Sunday newspaper reports suggested that SAB, currently ranked as the third largest brewer in the world, was looking for a developed world beer business to stabilise its earnings from Africa and the developing world. Earlier this month SAB was reported to have been looking to break into the potentially lucrative UK beer market, possibly through a deal with Bass or Whitbread. Bass – which makes the UK’s biggest selling beer Carling – has reportedly been considering a disposal of its beer-making business to focus on operating pubs and hotels. SAB officials are now based in London following the transfer of the company’s primary listing on the London Stock Exchange.