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Interbrew to seek review

Published:  23 July, 2008

Hearings possibly in May

Interbrew, the Belgian brewer, has won leave to pursue a judicial review of the Government's decision to block last year's 2.3bn acquisition of Bass Brewers. Hugo Powell, chief executive, expects the hearings to take place in May or June with a decision in July. He said this would give Interbrew until at least the end of the year to complete the disposal of Bass ordered by the Trade Secretary. Interbrew said that it was not challenging the Government's ruling but "the remedy of having to sell Bass in one piece to one buyer acceptable to the British Government." Interbrew had a net loss for 2000 of 910.1 million (573 million) after a 1.23 billion write-off against the value of Bass. Excluding Bass, net profits were up 36 per cent.