04 August, 2006

Canada: InBev declines to comment on rumoured interest in Canada's Sleeman brewery

Belgian brewer InBev SA has declined to comment on press reports that it is to bid for Canada's third largest brewery, Sleeman Breweries Ltd, AFX posted on August 1.

Reports in the Canadian daily Toronto Globe and Mail name InBev as one of four possible bidders for Sleeman, which has a 7 pct market share and is currently valued at 220 mln cad.

Citing industry sources, the Globe and Mail said that bids for Sleeman are expected to come in at more than 15 cad per share, which would value the company at 250 mln cad.

Analyst Marc Leemans at Bank Degroof said in a note to clients that "on an absolute basis, the acquisition would only be minor for InBev".

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