HEINZ INTERESTED IN BUYING GUINNESS BREWING
H.J. Heinz <HNZ.N> chairman Tony O'Reilly
would be interested in buying Guinness PLC <GUIN.L>'s brewery
division if it were for sale, a spokesman said.
    The spokesman, reacting to Irish and British press reports,
said "He continues to be interested were the group to offer the
brewery side of Guinness for sale. But he has not put together
a consortium, nor has he been buying shares."
    He was quoted by the Irish magazine Business and Finance as
saying he would be interested if it came on the market and that
he had the support of two international banks if he decided
such a purchase might be worthwhile.
    In the magazine article, he suggested that if brewing
profits were calculated to be in the region of 80 mln punts,
the asking price would not be higher than 800 mln punts.
    "A multiple of ten times earnings would be the top whack for
the brewing division in the current Guinness situation," he
said.
    "This would mean an expensive exercise, right on the edge,
but not impossible," he added.
    The deal would mean buying the Dublin, London, Nigerian and
Malaysian breweries because "It could only be sold as an
integral unit if it was going to be sold at all," O'Reilly said.
 Reuter
