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Carlsberg to buy Britvic for $4.2 billion

Carlsberg to buy Britvic for 1,315p per share

Carlsberg will also buy out Marston's from brewing joint venture

Danish brewer plans to create integrated beverage business in UK

Shares in Carlsberg, Britvic, Marston's all rise

July 8 (Reuters) - Carlsberg (CARLb.CO), opens new tab has agreed to buy British soft drinks maker Britvic (BVIC.L), opens new tab for 3.3 billion pounds ($4.23 billion), a move the Danish brewer said would forge a UK beverage "powerhouse" and that sent both companies' shares higher.

Carlsberg clinched the takeover with a sweetened bid of 1,315 pence per share - comprising cash and a special dividend of 25 pence a share - after the British company rejected 1,250 pence per share last month.

The acquisition will create value for shareholders, contribute to growth and forge a combined beer and soft drink company that is unique in the UK, CEO Jacob Aarup-Andersen told investors on a conference call.

"With this transaction we are creating a UK powerhouse," he said.

He brushed off concerns from some analysts about integration risks, saying Carlsberg has a strong track record of running beer and soft drink businesses in several markets. Soft drinks already make up 16% of Carlsberg's volumes.

COST SAVINGS

As drinkers in some markets ditch beer for spirits or cut back on drinking altogether, brewers have looked to broaden their portfolio into new categories like hard seltzer, canned cocktails and cider, as well as zero-alcohol brews.

Britvic sells non-alcoholic drinks in Britain, Ireland, Brazil and other international markets such as France, the Middle East and Asia.

Carlsberg said the deal will deliver a number of benefits, including cost and efficiency savings worth 100 million pounds ($128 million) over five years as it takes advantage of common procurement, production and distribution networks.

It will also see Carlsberg take over Britvic's bottling agreement with PepsiCo (PEP.O), opens new tab. Carlsberg already bottles PepsiCo drinks in several markets and there is scope to add more geographies in future, Aarup-Andersen said.

arlsberg halted share buy backs on Monday as a result of the deal.

Chief financial officer Ulrica Fearn said these would resume once Carlsberg reaches its revised target for net debt of 2.5 times EBITDA, from 3.5 times currently - a goal it expects to meet in 2027.

"Whilst this represents a shift in the strategy away from organic top- and bottom-line growth and consistent returns to shareholders, we view it as a relatively low risk transaction with attractive financials," Jefferies analysts said in a note.

Carlsberg also said on Monday it will buy out UK pub group Marston's (MARS.L), opens new tab from a joint venture for 206 million pounds. That will give it full ownership of the newly formed Carlsberg Britvic after the deal.

($1 = 0.7805 pounds)

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Reporting by Stine Jacobsen, Yadarisa Shabong and Emma Rumney Editing by Sherry Jacob-Phillips, Rashmi Aich, David Goodman and David Evans

Exclusive: Japan must strengthen NATO ties to safeguard global peace, PM says
TOKYO, July 9 (Reuters) - Russia's deepening military cooperation with North Korea has underlined the need for Japan to forge closer ties with NATO as regional security threats become increasingly intertwined, Prime Minister Fumio Kishida told Reuters. In written remarks ahead of his attendance at a NATO summit in Washington DC this week, Kishida also signalled concern over Beijing's alleged role in aiding Moscow's two-year-old war in Ukraine, although he did not name China. "The securities of the Euro-Atlantic and the Indo-Pacific are inseparable, and Russia’s aggression against Ukraine and its deepened military cooperation with North Korea are strong reminders of that," Kishida said. "Japan is determined to strengthen its cooperation with NATO and its partners," he added. The world, the Japanese leader said, should not tolerate attempts by some countries to disrupt the established international order and reiterated a warning that Ukraine today could be East Asia tomorrow. He also urged cooperation to confront new security threats that transcend geographical boundaries, such as cyber-attacks and conflicts in space. The U.S. and its allies have accused Pyongyang of providing ballistic missiles and artillery shells that Russia has used in its war in Ukraine and say they fear Moscow in return could provide support for North Korea's nuclear missile development. Washington has also said China is supplying droneWithout naming China, Kishida told Reuters "some countries" have allegedly transferred dual-use civilian-military goods to Russia which has served "as a lifeline" for its Ukraine war. "It is necessary to grapple with such situations in a multi-faceted and strategic manner, taking a panoramic view that considers the full range of international actors fuelling Russia’s attempt to change the status quo by force," he said. "The geographical boundary of 'Euro-Atlantic' or 'Indo-Pacific' is no longer relevant in safeguarding global peace and security. Japan and Indo-Pacific partners can play a great role for NATO allies from this perspective." Constrained by decades of pacifism, Tokyo has been reluctant to supply lethal aid to Ukraine. It has, however, provided financial aid to Kyiv, spearheaded efforts to prepare for its post-war reconstruction, and contributed to NATO’s fund to provide Ukraine with non-lethal equipment such as anti-drone detection systems. Tokyo has also repeatedly warned about the risks of a similar conflict emerging in East Asia, where China has been taking an increasingly muscular stance towards its territorial claims including the democratic island of Taiwan. "This summit is a critical opportunity for Japan, the U.S., and the other NATO allies to confront the ongoing challenges against the international order and to reaffirm values and principles that have shaped global peace and prosperity," he said. There may be limits, however, over how far NATO members are prepared to go in forging closer ties in Asia. A plan that surfaced last year for NATO to open a liaison office in Japan, its first in Asia, was blocked by France and criticised by China. and missile technology, satellite imagery and machine tools to Russia, items which fall short of lethal assistance but are helping Moscow build its military to sustain the Ukraine war. Beijing has said it has not provided any weaponry to any party.
Kris Jenner Shares Plans to Remove Ovaries After Tumor Diagnosis
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Xinjiang scientists discover plant with potential to survive on Mars
In a groundbreaking discovery, researchers from the Xinjiang Institute of Ecology and Geography of the Chinese Academy of Sciences have found a desert moss species, known as Syntrichia caninervis, that has the potential to survive in the extreme conditions on Mars. The Global Times learned from the institute that during the third Xinjiang scientific expedition, the research team focused on studying the desert moss and found that it not only challenges people's understanding of the tolerance of organisms in extreme environments, but also demonstrates the ability to survive and regenerate under simulated Martian conditions. Supported by the Xinjiang scientific expedition project, researchers Li Xiaoshuang, Zhang Daoyuan and Zhang Yuanming from the Xinjiang Institute of Ecology and Geography and Kuang Tingyun, an academician from the Chinese Academy of Sciences, concentrated on studying the "pioneer species" Syntrichia caninervis in an extreme desert environment, according to the institute in an article it sent to the Global Times on Sunday. Through scientific experiments, the researchers systematically proved that the moss can tolerate over 98 percent cell dehydration, survive at temperatures as low as -196 C without dying, withstand over 5000Gy of gamma radiation without perishing, and quickly recover, turn green, and resume growth, showcasing extraordinary resilience. These findings push the boundaries of human knowledge on the tolerance of organisms in extreme environments. Furthermore, the research revealed that under simulated Martian conditions with multiple adversities, Syntrichia caninervis can still survive and regenerate when returned to suitable conditions. This marks the first report of higher plants surviving under simulated Martian conditions. The research team also identified unique characteristics of Syntrichia caninervis. Its overlapping leaves reduce water evaporation, while the white tips of the leaves reflect intense sunlight. Additionally, the innovative "top-down" water absorption mode of the white tips efficiently collects and transports water from the atmosphere. Moreover, the moss can enter a selective metabolic dormancy state in adverse environments and rapidly provide the energy needed for recovery when its surrounding environment improves. Based on the extreme environmental tolerance of Syntrichia caninervis, the research team plans to conduct experiments on spacecraft to monitor the survival response and adaptation capabilities of the species under microgravity and various ionizing radiation adversities. They aim to unravel the physiological and molecular basis of the moss and explore the key life tolerance regulatory mechanisms, laying the foundation for future applications of Syntrichia caninervis in outer space colonization.
TikTok to introduce a new feature that can clone your voice with AI in just 10 second
Use of AI is certainly the hottest topic in the tech industry and every major and minor player in this industry is using AI in some way. Tools like ChatGPT can help you do a wide range of task and even help you generate images. The other thing is - Voice Cloning. OpenAI recently introduced a voice engine that can generate clone of your voice with just 15 seconds of your audio. There is no shortage of voice cloning tools on the web which can help you do the same. The newest tech giant which is going to use AI to clone your voice is - TikTok. We all know TikTok, posting short videos with filters, effects and all other kind of things. So TikTok found a way to use the voice cloning AI in its app. TikTok is working on this feature, which does not seem to really have a proper name, it just references it as "Create your voice with AI" and "TikTok Voice Library". In the latest version of TikTok I came across some strings which indicates that TikTok is working on it. I was also able to access the initial UI which introduces the feature and was able to see the terms and condition of "TikTok Voice Library" which user have to accept in order to use the feature. Here are the screenshots from the app- As you can in the screenshot above, this is the initial screen which a user will see for the first time they access this feature. Tiktok claims that it can create an AI verison of your voice in just 10 seconds. The generated AI voice clone can be used with text-to-speech in TikTok videos. It also outline the process of how it will work. You have to record yourself speaking and TikTok will process the voice and use information about your voice to generate your AI voice. When it comes to privacy, your AI voice will stay private and you can delete it anytime. Tapping the "Continue" button brings "TikTok Voice Library Terms" screen which a user should definitely read, you can see here and read as well - How it will work After agreeing to terms and conditions I was introduced with a screen where TikTok will show some text and user have to press the record button while reading the text. Now unfortunately I did not see any text. This is probably because the feature is not fully ready or the backend from which it fetches the text is not live yet. Manually pressing the record button and saying random things also shows an error. So, it's also not possible to provide any sample voice generated with it and see how it compares to other voice cloning competitors. If it starts working someday, it will process your recorded voice and generate AI version of your voice. Here is a screenshot of that screen - My guess is that whenever the feature starts working, users have to clone voice only one time and the saved AI voice can be used through the text-to-speech method to add voice in your videos. You just have to type the words, choice is yours :p
Enhance Your Photos With NASA's Sharpening Technique
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