Interbrew to take legal action
it would be forced to sell Bass Brewers - but in order to limit
damage it stated that...
Interbrew, the Belgian brewer, on Friday effectively accepted that it would be forced to sell Bass Brewers - but in order to limit damage it stated that legal action would be taken. The group, which bought Bass's brewing business in 2000 for £2.3bn ($3.37bn), will seek to overturn the decision by Stephen Byers, the UK trade and industry secretary, to force a disposal of Bass Brewers to a government-approved buyer. Hugo Powell, Interbrew's chief executive, said the group's legal advisers had told him that the courts were unlikely to overrule Mr Byers. Instead, the group hopes the courts will give it more time to carry out a disposal and allow a greater range of possible bidders to be considered including financial buyers. Source: Financial Times
