The Danish brewer Carlsberg has placed a buyback offer to the minority shareholders of Bulgarian brewery Pirinsko Pivo with Bulgaria's State Securities and Exchange Commission. Carlsberg bought a 67.16% share in the brewer at the end of October.

The offer envisages a price of 26.45 Bulgarian levs (US$13.5) per share, equal to the price at which Carlsberg bought its 67.16% stake.

The other shareholders include the private industrial group Zlaten Lev with 25.5% and about 1,300 individual shareholders.

According to Bulgarian press sources, the State Securities and Exchange Commission will have to announce its stance on Carlsberg's buyback offer by November 19, 2002.