Completion of Acquisition

RNS Number:2736T
Scottish & Newcastle PLC
28 April 2008

 
Scottish & Newcastle plc

28 April 2008


Not for release, publication or distribution in whole or in part in, into or
from any jurisdiction where to do the same would constitute a violation of the
relevant laws of such jurisdiction


FOR IMMEDIATE RELEASE

28 April 2008

                            Recommended acquisition

                                       of

                            Scottish & Newcastle plc

                                       by

                          Sunrise Acquisitions Limited

          (a company jointly owned by Carlsberg A/S and Heineken N.V.)


                           COMPLETION OF ACQUISITION


The Board of Scottish & Newcastle plc ("S&N") announces that the reduction of
capital comprised within the Scheme (the "Reduction") has been confirmed by the
Court of Session, Edinburgh, Scotland (the "Court"), that the Court Order
confirming the Reduction and a certified copy of the minute of the Reduction
have been registered by the Registrar of Companies and that the Scheme became
effective on registration of the Court Order.

The listing of the ordinary shares of S&N on the Official List is expected to be
cancelled with effect from 8.00 am on 29 April 2008.

Cash consideration due under the offer will be despatched by cheques/issue of
Loan Notes or settled through CREST, as appropriate, by 12 May 2008.

Unless stated otherwise above, the terms used in this announcement have the same
meanings as set out in the Scheme Document dated 22 February 2008 (the "Scheme
Document").


For further information:

Scottish & Newcastle plc:                                       +44 20 7409 2112
Richard Gibb: Head of Corporate Affairs
Robert Ballantyne: Head of Corporate Communications
Joanna Speed: Head of Investor Relations

Deutsche Bank (Financial adviser and corporate broker to S&N):  +44 20 7545 8000
Nigel Meek
Jeremy Quin
James Arculus
James Agnew (Corporate Broking)

Rothschild (Financial adviser to S&N):                          +44 20 7280 5000
Akeel Sachak
Nicholas Wrigley
Robert Plowman

UBS (Financial adviser and corporate broker to S&N):            +44 20 7567 8000
Heino Teschmacher
James Robertson
Tim Waddell (Corporate Broking)

Smithfield (Financial public relations adviser to S&N):         +44 20 7903 0667
John Kiely


The Directors of S&N accept responsibility for the information contained in this
announcement and, to the best of their knowledge and belief (having taken all
reasonable care to ensure that such is the case), the information contained in
this announcement is in accordance with the facts and does not omit anything
likely to affect the import of such information.


Deutsche Bank AG is authorised under German Banking Law (competent authority:
BaFin - Federal Financial Supervising Authority) and with respect to UK
commodity derivatives business by the Financial Services Authority; and is
regulated by the Financial Services Authority for the conduct of UK business.
Deutsche Bank AG is acting exclusively for S&N and no-one else in connection
with the Acquisition and will not be responsible to anyone other than S&N for
providing the protections afforded to clients of Deutsche Bank AG or for
providing advice in relation to the Acquisition or to the matters referred to
herein.

N M Rothschild & Sons Limited, which is authorised and regulated by the
Financial Services Authority in the United Kingdom, is acting for S&N and no one
else in connection with the Acquisition and will not be responsible to anyone
other than S&N for providing the protections afforded to clients of N M
Rothschild & Sons Limited or for providing advice in relation to the Acquisition
or to the matters referred to herein.

UBS Investment Bank, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for S&N and no-one else
in connection with the Acquisition and will not be responsible to anyone other
than S&N for providing the protections afforded to clients of UBS Investment
Bank or for providing advice in relation to the Acquisition or to the matters
referred to herein.

The availability of the Acquisition to S&N Shareholders who are not resident in
and citizens of the United Kingdom may be affected by the laws of the relevant
jurisdictions in which they are located or of which they are citizens. Persons
who are not resident in the United Kingdom should inform themselves of, and
observe, any applicable legal or regulatory requirements of their jurisdictions.
Further details in relation to overseas shareholders are contained in the Scheme
Document.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
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