The Carlsberg Foundation has today released the below announcement:
The Carlsberg Foundation has noted with great pleasure that Carlsberg A/S today has agreed with Orkla ASA to buy Orkla's 40% shareholding in Carlsberg Breweries A/S.
The Carlsberg Foundation supports all initiatives which increase the shareholder value of Carlsberg A/S and which may contribute to making the Carlsberg share an attractive liquid share with broad appeal. The acquisition of Orkla's 40% shareholding - leaving Carlsberg A/S as the 100% shareholder in Carlsberg Breweries - contributes decisively to the creation of shareholder value. At the same time, the acquisition leads to a distinct and uniform structure of the Carlsberg Group which now effectively becomes synonymous with Carlsberg's global brewing operations. Finally, the Carlsberg Foundation expects that the more transparent organisation of Carlsberg will provide shareholders with a more direct access to cash flow and that it will strengthen the international profile of the Carlsberg brand.
The Carlsberg Foundation's representatives in the Board of Directors of Carlsberg A/S will support the management's efforts to increase earnings and cash flow from existing activities and continued development of the Carlsberg Group. In the coming years, a reduction in the interest-bearing debt of the Carlsberg Group will have high priority.
According to the charter of the Carlsberg Foundation, the Carlsberg Foundation shall hold at least 51% of the share capital in Carlsberg A/S. The Foundation has
informed Carlsberg A/S that it intends to participate in the proposed capital increase of the company by reducing its ownership to 51% and investing DKK 1bn.
The charter of the Carlsberg Foundation is available atwww.carlsbergfondet.dk.
Yours sincerely,
Povl Krogsgaard-Larsen
Chairman