RUSSIA: Alfa to chase Sun Interbrew regardless
Alfa Group will look to raise its stake in Sun Interbrew despite attempts by larger shareholders to boost their control over the company.
Earlier this month, the Russian financial company acquired 10.4% of the voting shares in Sun Interbrew. Local press reports said that Alfa upped its stake to 15.8% more recently this month leading to speculation that the Russian firm is looking to acquire a blocking stake in the company.
Earlier this week, however, Interbrew and India's Sun Group, which own 34.25% of voting shares each, said that they had agreed to buy more voting shares to increase their combined stake to 75.5%.
Speaking to Reuters, Igor Litvak, vice-president of Alfa Group's investment and trading arm Alfa Eko, said: "We are not renouncing plans to increase our stake in Sun Interbrew.
"Such actions (by Sun Group and Interbrew) were predictable and will affect our plans in no way," he added.
Litvak declined to say whether Alfa Eko would buy the shares on the open market or offer a buyout deal to other shareholders. "We are considering all possibilities," he told the press agency.
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