Interbrew Company

* Britain's Bass agreed to sell its breweries to Belgium's Interbrew for $3.46 billion to focus on expansion of its hotel operations, possibly in the United States.

Interbrew, the Belgian brewer of Labatt's and Rolling Rock, agreed to sell its Carling brand to secure approval from British financial authorities for its $3.3-billion acquisition of Bass Brewers. Interbrew said it planned to sell Carling, Britain's leading lager brand, as soon as possible. The British government in January moved to block Interbrew's planned acquisition of Bass over concern that it would hurt competition in the British beer industry.

British regulators objected to the $3.45-billion purchase of Bass Brewers by Belgium's Interbrew, saying the deal would stifle competition in the beer industry, and ordered Interbrew to sell the British brewer. Interbrew said the ruling "defies logic," but stopped short of saying whether it would comply with the order or appeal the decision.

Belgium's Interbrew reached an agreement to buy the maker of Beck's beer, Brauerei Beck, for $1.6 billion, a deal that would make it the No. 2 brewer in the premium lager market behind the Dutch company Heineken. Analysts described the price as relatively high but said Interbrew could see benefits if it can increase exports to such countries as the United States, where sales of imported beers are growing. Interbrew's flagship brand is Stella Artois.

Brewer John Labatt Ltd. accepted an offer valued at $2.9 billion from Interbrew of Belgium on Tuesday, a deal that would create the world's third-largest brewing company, behind Anheuser-Busch Cos. and Heineken. Labatt, Canada's second-largest brewer, turned to privately held Interbrew to rescue it from a hostile $1.68-billion takeover offer from Onex Corp., a Canadian leveraged buyout firm. The news sparked a sharp jump in the stock of Labatt, which closed up $1.

Interbrew to Sell Labatt TV Arm: The Belgium brewer, which is buying Canada's Toronto-based John Labatt Ltd. for $2 billion, said it is selling the television unit to a group led by the unit's management. The price for Labatt Communications Inc. was not disclosed, but analysts have valued the media assets at about $444 million. Interbrew said the agreement is subject to the completion of its takeover of Labatt, set to close July 26.

Belgium's Interbrew reached an agreement to buy the maker of Beck's beer, Brauerei Beck, for $1.6 billion, a deal that would make it the No. 2 brewer in the premium lager market behind the Dutch company Heineken. Analysts described the price as relatively high but said Interbrew could see benefits if it can increase exports to such countries as the United States, where sales of imported beers are growing. Interbrew's flagship brand is Stella Artois.

Venezuela's Cisneros family and Belgian brewer Interbrew said they will form a joint venture that could invest $2 billion over the next five years to boost beer sales in Latin America. The companies said they and possible future partners hope to capture 10% to 15% of Latin America's market. The companies will initially focus on Venezuela, where a $250-million investment is planned. Interbrew, the world's fourth-largest brewer, will take a 50% stake in a Cisneros-owned regional brewery.

Interbrew, the Belgian brewer of Labatt's and Rolling Rock, agreed to sell its Carling brand to secure approval from British financial authorities for its $3.3-billion acquisition of Bass Brewers. Interbrew said it planned to sell Carling, Britain's leading lager brand, as soon as possible. The British government in January moved to block Interbrew's planned acquisition of Bass over concern that it would hurt competition in the British beer industry.

British regulators objected to the $3.45-billion purchase of Bass Brewers by Belgium's Interbrew, saying the deal would stifle competition in the beer industry, and ordered Interbrew to sell the British brewer. Interbrew said the ruling "defies logic," but stopped short of saying whether it would comply with the order or appeal the decision.

* Britain's Bass agreed to sell its breweries to Belgium's Interbrew for $3.46 billion to focus on expansion of its hotel operations, possibly in the United States.

Venezuela's Cisneros family and Belgian brewer Interbrew said they will form a joint venture that could invest $2 billion over the next five years to boost beer sales in Latin America. The companies said they and possible future partners hope to capture 10% to 15% of Latin America's market. The companies will initially focus on Venezuela, where a $250-million investment is planned. Interbrew, the world's fourth-largest brewer, will take a 50% stake in a Cisneros-owned regional brewery.

Interbrew to Sell Labatt TV Arm: The Belgium brewer, which is buying Canada's Toronto-based John Labatt Ltd. for $2 billion, said it is selling the television unit to a group led by the unit's management. The price for Labatt Communications Inc. was not disclosed, but analysts have valued the media assets at about $444 million. Interbrew said the agreement is subject to the completion of its takeover of Labatt, set to close July 26.

Brewer John Labatt Ltd. accepted an offer valued at $2.9 billion from Interbrew of Belgium on Tuesday, a deal that would create the world's third-largest brewing company, behind Anheuser-Busch Cos. and Heineken. Labatt, Canada's second-largest brewer, turned to privately held Interbrew to rescue it from a hostile $1.68-billion takeover offer from Onex Corp., a Canadian leveraged buyout firm. The news sparked a sharp jump in the stock of Labatt, which closed up $1.