Efes Breweries International (EBI) has said it is seeking a listing on the London Stock Exchange. 

EBI operates across the CIS, Eastern Europe and the Balkans, and in particular has a strong presence in Russia.

In a statement the company, which sells beer in Russia, Kazakhstan, Moldova, Romania, Serbia and Montenegro and Ukraine, and has nine breweries in total, said its long-term strategic goal is to become one of the leading brewers in the region extending from the Adriatic Sea to the borders of the People's Republic of China.

EBI conducts the international brewing operations of Anadolu Efes, the leading brewer in Turkey, which is listed on the Istanbul Stock Exchange and owns 85% of EBI. 

The proposed flotation will be take the form of an offer of new shares by EBI and existing shares held by certain selling shareholders except for Anadolu Efes. The shares in the flotation will be offered in the form of Global Depositary Receipts to institutional investors in the UK and internationally.

Muhtar Kent, CEO of EBI, said:  "EBI offers investors access to fast-growing beer markets through its established portfolio of brands. We have achieved compound annual growth rates of 60% in revenues from 2001 to 2003 and 57% in sales volume through organic growth and acquisitions over the same period. We have achieved this growth while at the same time increasing our profitability.  Our brands are well positioned to continue to benefit from the high-growth segments of our markets".

Credit Suisse First Boston has been appointed lead manager, bookrunner and broker for the proposed flotation.  ABN Amro Bank, Allen & Co, Creditanstalt IB and United Financial Group have been appointed as co-lead managers.

In the year ended 31 December 2003, EBI's net sales on a consolidated basis were approximately US$264.1m, representing an increase of approximately 65.0% on the previous year.

As at 31 December 2003, EBI had 3,157 full-time employees.