Carlsberg Breweries A/S sells its 32 per cent shareholding in the biggest Lithuanian brewery Svyturys Utenos Alus to Baltic Beverages Holding AB (BBH), which then holds 76 per cent of Svyturys Utenos Alus. The European Bank for Reconstruction and Development and the Danish development foundation each owns 11 per cent. The remaining 2 per cent is owned by local investors.
As majority shareholder BBH is obliged under Lithuanian law to issue a public tender for the remaining share capital. BBH has 30 days to decide the share price and work out the conditions for the public tender.
The two leading Lithuanian breweries Svyturys and Utenos Alus merged in January this year under the name Svyturys Utenos Alus, and today has a market share of 48 per cent.
Selling of Svyturys Utenos Alus to BBH is a natural step in the process of concen-trating the ownership and, consequently, the overall operating responsibilities for Carlsberg Breweries' activities in Russia, the Baltic countries and Ukraine with BBH, which has more than 10 years of experience in operating breweries in the countries mentioned.
The transaction will result in a profit of DKK 35 million in the half year financial statement of Carlsberg Breweries.
Sale of Vena approved
Carlsberg Breweries sold 49.9 per cent of OAO Vena Brewery in St. Petersburg to BBH on 30 November 2001. At the same time, Carlsberg Breweries acquired the approx. 33 per cent which the European Bank for Reconstruction owned of Vena. The Russian authorities have now approved both the sale and the acquisition.
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