The Danish brewer Carlsberg announced on May 31 a $52m deal that will give it control of the second-largest Turkish beer manufacturer Turk Tuborg, reports the Financial Times. Carlsberg already has a small stake in Turk Tuborg. It will now buy an additional 48 per cent bloc from Yasar Holding, a Turkish conglomerate, bringing its total holding to just above 50 per cent. "We are well aware of the financial situation in Turkey but we regard our investment as a long-term investment," said Margrethe Skov, Carlsberg's public affairs officer. Last year, beer sales in Turkey sharply fell due to the country's economic slowdown and a tourism slump after two major earthquakes. This year, a revival in the tourism industry is expected to spill over into the beer sector. Source: Financial Times
