Tennent’s brewer denies reports of switch to London

By PETER RANSCOMBE
Published on 05/11/2012 00:00

TENNENT’S lager-owner C&C Group continues to mull a move for its primary listing from Dublin to London to boost the shares’ liquidity – but denied weekend reports that it had told investors it will make the switch in the new year.

The Irish firm – which owns cider brands including Bulmers in Ireland, Gaymers and Magners – already has a secondary listing in the UK, although the bulk of its shares are still traded in Ireland. Chief executive Stephen Glancey told shareholders at June’s AGM in Dublin that he had noted the departure of fellow Irish stocks CRH and Greencore for London.

Chairman Sir Brian Stewart, who served with Glancey at Scottish & Newcastle, told investors at the meeting that any changes would be made in shareholders’ best interests.

Further media speculation over the move come just weeks after C&C Group bought Woodchuck-maker Vermont Hard Cider Company, the biggest producer of fermented apple juice in the United States, for $305 million (£190m) as part of its international expansion.