BELARUS NEWS AND ANALYSIS

DATE:

01/08/2006

Belarus: Krinitsa looks to Russia - report

Source: just-drinks.com editorial team

Belarussian brewer Krinitsa is looking to move into Russia, according to reports.

The company is reportedly set to open a representative office in Moscow later this year, Prime-Tass news service said yesterday (31 July). Citing a company administration official, Tass added that the move should see Krinitsa develop a distribution network in the country.

Krinitsa hopes to start selling its beer in Russia in early 2007.

Formed in 2001, the Minsk-based company was the subject of a petition for bankruptcy from Russian brewer Baltika in 2003. Two years earlier, Baltika had agreed with the Belarus government to invest around US$50m in Krinitsa in exchange for a controlling stake in the brewery.

The Belarus government decided, however, to reduce this to a 30% stake after Baltika had already invested US$10.5m. A Minsk court refused to consider the petition.

Source:

http://www.just-drinks.com/article.aspx?id=87302