RUSSIA: Efes chases debt to pay for growth
Efes Breweries International is looking to build up a US$500m war-chest. The brewer said yesterday (14 February) that, together with its parent company Anadolu Efes, it has mandated Citigroup and HSBC Bank to organise the debt.
The proceeds from the financing package will be invested in EBI's organic and inorganic growth plans, the company said.
Part of the debt will be used to fund EBI's acquisition, announced last month, of Russian brewer Krasny Vostok Brewing Group. The purchase will cost EBI US$390m.
The proportion by which Anadolu Efes and EBI will share the financing package is yet to be determined, the two companies added.
Sectors: Beer & cider
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