Danish brewer Carlsberg has made an all-share offer to buy the maker of German beer brand Holsten.

Carlsberg said the 523m euros deal would make it the largest brewer in the north of Germany.

Carlsberg said the enterprise value of Holsten was 1.07bn euros. It has agreed to sell Holsten’s König and Licher breweries, plus its mineral water businesses with an enterprise value of 628m euros.

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