The review, which was revealed in 北京赛车pk10, was only the second time the brand had reviewed its business in 24 years. The AAR was reported to have drawn up a shortlist of agencies to present to Holsten marketing director Andy Edge's team.
At the time, it was thought that the review could spark a new direction for the beer brand, which has lost a lot of ground in recent years to premium lager brands.
The brand last reviewed its advertising in 2000 when it again retained TBWA, which via GGT has held the account since 1978.
The last time TBWA defended the business, it saw off challenges from WCRS and Leagas Delaney. It is unclear which other agencies were invited to pitch this time around although it is thought that the list included Grey London.
TBWA's grip on the account was thought to have been weakened by the departure of TBWA chief executive Gary Lace, who left to take up the same role at for Grey. The review was called shortly afterwards.
Holsten is most famous for its advertising and TBWA, and what was GGT, have produced some standout ads over the years including Denis Leary delivering fuming lectures on modern life. Last year, it drafted in British actor Ray Winstone with the strapline: "Who's the daddy?", but it is not thought the star of 'Sexy Beast' had much impact on Holsten's declining sales.
The media account, which is held by MediaVest, is also thought to be under review.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .