He also likes Norwegian conglomerate Orkla Group and Brisa Auto-Estradas de Portugal, a toll-road operator.

WSJ: Upside: Signs of Hope for Stock Investors

But he bought Orkla's brewing activities with shares representing 40% of all of Carlsberg's brewing operations.

FORBES: A Beer That Lost Its Head

Lindelov's response to losing out on major European buys was the acquisition in June of the beer (Pripps-Ringnes) and soft drinks (Ramlsa) activities of Norway's Orkla.

FORBES: A Beer That Lost Its Head