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Lord
Karan Bilimoria has signalled the prospective sale of his Cobra Beer
empire, a move that could net a multi-million pound fortune for one
of Britain's most prominent Asian businessmen.
The cross-bench peer's move
towards an auction of the brewing business is disclosed in marketing
documents seen by The Sunday Telegraph which are being used to
convince financial institutions to back the company.
Cobra is promising investors a
"full exit in 36 months" and states that a trade sale to
one of the big brewers or drinks companies is likely. It identifies
SABMiller, InBev, Molson Coors, Carlsberg and Anheuser-Busch as
"obvious buyers" with others such as Heineken, Kirin and
Indian-owned companies also "possible buyers".
Cobra is trying to secure
£13m from City investors to help fund its rapid expansion in India.
Bilimoria, who founded premium
brand lager company in 1989 by selling crates to curry houses from
the back of his car, has confirmed the strategy.
Lord Bilimoria said: "It's
a very likely option that someone comes along and makes us an offer
we cannot refuse. I am not saying I am definitely going to sell the
company. What I am saying is that definitely within three years we
will have to have a major event." Drinks Business reported.
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