Heineken to buy BBAG
Some wouldn’t, other couldn’t. In the end, Heineken clinched a deal with the representatives of the shareholders of Getränke-Beteiligungs-AG ("GeBAG") to be in a position to acquire a majority stake in BBAG Öster-reichische Brau-Beteiligungs-Aktiengesellschaft ("BBAG"), the leading Austria based brewery group which controls 14.1% of the central European beer market.
Add to that Heineken’s share and the new Brau Union will have 27% of the regional market with a total volume of 26 million hl. Overall beer consumption in Central Europe in 2002 was 92 million hl which is 7% of the global total.
When BBAG announced in January that it was up for sale, the "usual suspects" were rumoured to take part in the auction. Ultimately, all except one had to walk away again empty handed..
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