Interbrew closer to stock float
Money would be used for acquisitions
Apr 16, 2000 - New reports indicate that Belgian brewer Interbrew, maker of Stella Artois, is ready to float a stock offer that would raise cash the company could use to make acquisitions.
Interbrew denied reports in December that it was considering an initial public offering (IPO). The London Telegraph reports that at the same time the company sent an internal memo that said: "As part of the long range planning exercise, we have reviewed different sources of funding, all based on our own financing capacity, to make further acquisitions."
Interbrew is widely expected to buy Whitbread's brewing arm when it comes on the market in the summer, but needs more to keep up with brewery consolidation in Europe. Interbrew recently missed out on acquiring Kronenbourg from Danone, which was bought by Scottish & Newcastle. It also isn't expected to get the Bass brewing business, where Heineken and South African Breweries are the leading contenders.
The Telegraph conjectures that Interbrew may considering broadening its North American holdings. It already owns the Labatt and Rolling Rock breweries.
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