Olvi is looking to expand its footprint beyond its domestic market and is exploring acquisition opportunities in Belarus and th e Baltic states.
Heineken has declined to comment on a report that it is looking to sell Finnish subsidiary Hartwall for US$790m.
Finnish brewer Olvi has acquired a majority stake in Belarusian brewery Lidskoe Pivo.
Cesu Alus has posted a record year for sales in 2007.
Olvi Group has posted a strong set of results for the year so far, despite the poor summer in the countries it operates in.
- Comment - Heineken's 'No' Cuts SABMiller Options
- Irish whiskey eyes a slice of Scotch's global pie
- SABMiller spurned by Heineken: The start of the en
- Can the New World Learn a Lesson from the Old?
- Guinness: A Great Day for St James's Gate
- Patron Spirits' Patron Citrónge Lime
- Heineken rejects SABMiller purchase proposal
- Wm Grant CMO to head Orangina Scweppes Int'l
- Diageo's Special Releases 2014
- SABMiller, Heineken silent on takeover offer talk