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. Last Updated: 07/27/2016

S&N Reviews Sale of Stake in BBH

LONDON -- British brewer Scottish and Newcastle may sell its stake in brewer Baltic Beverages Holding to block a potential joint bid from Carlsberg and Heineken, a source said.

The source close to the matter said Sunday that S&N was considering all options including selling its stake in the BBH venture, of which Carlsberg wants to take full control via its joint bid with Heineken.

Carlsberg and Heineken announced their joint approach for the Edinburgh-based brewer last week, with Carlsberg intending to buy S&N's interest in BBH.

BBH controls over 85 percent of Baltika, the biggest brewer in Russia, and provides around one-third of S&N's and Carlsberg's group earnings.

Heineken would take over S&N's British business, which includes Strongbow cider and John Smith's beer and its other European units including Belgium, Finland and Portugal.