Carlsberg has increased its control of Estonian brewer Saku Ölletehas.

The term for the acceptance of the takeover bid ended on 26 June, Saku said yesterday (1 July) and the purchase price offered by Carlsberg was EEK194.06 (US$19.60) per share.

Shareholders decided to sell just under 1.4m shares of Saku, constituting approximately 17.4% of all shares in the company.

Carlsberg now owns 7.4m shares in Saku, constituting around 92.4% of the brewer.

The company said Carlsberg has decided to initiate actions for the squeeze-out of remaining minority shareholders.

Payment of the purchase price to shareholders who sold their shares and the transfer of shares sold to Carlsberg will be executed on 3 July.