Carlsberg CEO Says No Intention of Moving into M&A

By Christina Zander

The chief executive of Danish brewer Carlsberg, Cees't Hart, said Wednesday the company is monitoring the planned combination of the world's two biggest brewers, Anheuser-Busch InBev NV (ABI.BT) and SABMiller PLC (SAB.LN), but that the company has no plans to make mergers and acquisitions itself.

AB InBev's $104.2 billion purchase of SABMiller would almost certainly require the company to sell off operations in the U.S. and maybe China, but Carlsberg, constrained by its finances, said it has no plans to go shopping for new businesses.

"Our focus is on organic growth and we have no clear intent to move into M&A," Mr. Hart told reporters.

Carlsberg, the world's fourth-biggest brewer, on Wednesday announced it will cut 2,000 jobs in an effort to improve its profitability, which has long been weighed down by its East European operations.

-Write to Christina Zander at christina.zander@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

November 11, 2015 02:59 ET (07:59 GMT)

Carlsburg AS (PK) (USOTC:CABGY)
Historical Stock Chart
From Jun 2024 to Jul 2024