BELARUS NEWS AND ANALYSIS

DATE:

21/12/2006

Carlsberg, S&N's BBH subscribes to 30 pct of Olivaria Brewery capital hike

COPENHAGEN (AFX) - Carlsberg AS said Baltic Beverages Holding AB (BBH), its joint venture with Scottish & Newcastle PLC, is subscribing to a 30 pct share of a capital increase by the privately owned Olivaria Brewery in Minsk, Belarus.

No financial details were divulged.

Olivaria Brewery was established in 1864. It has a market share of approximately 10 pct, brewing capacity of 400,000 hectolitres and 600 employees. It plans to increase capacity to 600,000 hectolitres in 2007.

BBH is already active in Belarus through exports from Baltika in Russia, Carlsberg added.

The European Bank for Reconstruction and Development, which has been a major shareholder in Olivaria since 2005, will have 21 pct of the shares in Olivaria after the capital increase.

Carlsberg did not disclose what BBH's overall stake in Olivaria will be following the hike.

Source:

http://www.forbes.com/business/feeds/afx/2006/12/21/afx3274091.html

Google