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Interbrew wins right to judicial review
Interbrew has won leave to pursue a judicial review of the British government's decision to block last year's £2.3bn acquisition of Bass Brewers. Interbrew chair, Paul De Keersmaeker, says external advisers are convinced the brewing giant has a strong legal case. The company says it is filing for a judicial review in order to gain time in which to divest the business. Interbrew had a net low for 2000 of 910 euros (£573m) as the costs involved in its takeover of Bass Brewers pushed the company into the red. Interbrew paid £2.3bn for Bass during summer 2000, then just over half a year later the UK government ordered it to sell it again for competition reasons. The company has also announced that Keersmaeker, chair since 1994, would step down on 24 April to be replaced by board member Pierre Jean Everaert. The hearings are expected to take place in May or June with a decision in July.
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