CZECH: Budejovicky Budvar sale not before 2010 - report
The Czech government has warned that the privatisation of state-owned brewer Budejovicky Budvar will not happen this term, according to local reports.
The brewer, which owns and produces the Budvar beer brand, is set to become a joint-stock company at some point in the near future, with a view to being sold off at some point afterwards.
Reports from Czech this week, however, have said that the step to going private is still some way off. Weekly newspaper Ekonom cited Czech Agriculture Minister Petr Gandalovic as saying: "If (the state) really wanted to hold onto a controlling stake (in Budvar), it would be a matter of political discussion and a future government."
A separate report in CTK yesterday (10 January) cited Gandalovic as saying: "Definitely (the privatisation) won't be this year. It's still a question if it will be next year when the Czech Republic chairs the EU.
"The year 2010 will be (dedicated to) an election campaign," Gandalovic told the news wire.
No-one was available to confirm the reports at the Czech Department of Communication when contacted by just-drinks today.
Last month, the Agriculture Ministry confirmed that it has received three bids from law firms for the post of legal advisor for the transformation of Budvar's status.
The sales of beer from Budweiser Budvar increased faster in 2007 than the Czech market average....
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