Carlsberg buying Holsten for €1.065bn - probably

Carlsberg has said it has made an offer to buy German rival Holsten for €1.065bn.

The Danish brewing giant said it will offer €38 for each Holsten share, as well as taking on Holsten's debts.

Carlsberg has already secured conditional agreements to acquire 51% of the share capital of Holsten.

The brewer has said it wants the backing of 75% of the shareholders to close the deal, which is subject to regulatory approval.

Carlsberg said the purchase would make it the biggest brewer in northern Germany and that it would move its German headquarters to Hamburg.