Our announcement to the Stock Exchange of 25 September 1997 mentioned that Carlsberg A/Sí wholly owned subsidiary Carlsberg-Tetley had prepared a three-yearsí plan with a view to safeguarding the companyís future as a competitive and profitable independant company in Great Britain.
Furthermore, it was planned to close down the brewery in Burton by April 1999 if a suitable buyer could not be found.
Carlsberg-Tetley has now announced that subject to approval by the authorities, agreement has today been reached on acquisition of the brewery plant and malting house in Burton by Bass Brewers Ltd., which operates a brewery on a neighbouring site. At the same time, about 540 Carlsberg-Tetley employees in Burton will be transferred to Bass Brewers Ltd.
Following the sale of the Burton brewery it has been agreed that in a transitional period, the Burton brewery will continue production for Carlsberg-Tetley, after which period all Carlsberg-Tetleyís products will be produced at C-Tís breweries in Leeds or Northampton.
Carlsberg A/S Sole Shareholder in Carlsberg-Tetley
Under the terms of the original agreement between Allied Domecq and Carlsberg, when Allied Domecq sold its 50% share to Bass, an option was written in for Allied Domecq to retain a 14.99% interest in Carlsberg Tetley if the proposed merger did not go ahead.
Carlsberg A/S has to day confirmed that both itself and Allied Domecq are waiving their "put" and "call" options for this shareholding.