Amadeusz Juskowiak

Heinz interested in buying guinness brewing

HJ Heinz HNZN chairman Tony OReilly would be interested in buying Guinness PLC GUINLs brewery division if it were for sale a spokesman said

The spokesman reacting to Irish and British press reports said He continues to be interested were the group to offer the brewery side of Guinness for sale But he has not put together a consortium nor has he been buying shares

He was quoted by the Irish magazine Business and Finance as saying he would be interested if it came on the market and that he had the support of two international banks if he decided such a purchase might be worthwhile

In the magazine article he suggested that if brewing profits were calculated to be in the region of 80 mln punts the asking price would not be higher than 800 mln punts

A multiple of ten times earnings would be the top whack for the brewing division in the current Guinness situation he said

This would mean an expensive exercise right on the edge but not impossible he added

The deal would mean buying the Dublin London Nigerian and Malaysian breweries because It could only be sold as an integral unit if it was going to be sold at all OReilly said

Reuter