Denmark, Copenhagen: The Danish Brewery Group A/S (Bryggerigruppen) announced on March 31 it has entered into an agreement to sell the former brewery site in Randers. Approximately two years after the closure of the brewery activities in Randers, The Danish Brewery Group has now entered into an agreement to sell the 30,000 square metres site to a consortium consisting of Difko, KPC, and Henton Ejendomme.
The majority of the former brewery buildings will be demolished and new buildings will be constructed for retail, business and housing purposes. The location in the centre of Randers provides a unique opportunity of strengthening trade in the mid-town area. At the same time, the consortium wishes to create a natural connection to the existing mid-town area and the area referred to in Randers as Østervold.
The deal is subject to, among other conditions, the adoption of a district plan for the area. This plan is expected to be implemented around the 2005 year end. The sales price for the site will be payable by instalments depending on the realisation of the construction – successively over a maximum of 4 years.
The deal is expected to have a positive effect on the Q4 2005 financial statements of The Danish Brewery Group of DKK 5-6 million. The expected profit before tax of The Danish Brewery Group for 2005 remains unchanged at DKK 290-340 million.
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