Radeberger to sell stake in Schwechat Brewery
In a move to disentangle itself from investments which might stand in the way of a sale, Germany’s second largest brewer, Radeberger Gruppe AG, the re-named Binding AG and majority owned by Germany’s food group Oetker, has sold its 10.6 percent strategic stake in Austrian brewer Schwechat AG. The shares were sold as a package to Schwechat’s majority shareholder, the Hopfen & Malz Holding AG. In a similar move, the Oetker Group sold its 16.6 percent stake in Schwechat. Both transactions are to come into effect in 2002. No mention was made of the value of the transactions. Radeberger AG announced that the proceeds from the sale will go towards increasing its market share in Germany..
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