RUSSIA: Efes looks to up Moscow Efes stake
Efes Breweries International is in talks to buy out a minority stakeholder in its Russian subsidiary.
The Dutch-based holding company confirmed yesterday (22 August) that it has begun negotiations with EL&EL Ltd to buy its 7.89% stake in Moscow Efes Brewery. No other details were given.
In February, Efes increased its holding in Moscow Efes by 12.4% when it bought a stake belonging to Amsterdam Brewery Investment for an undisclosed amount. Efes subsequently held 83.4% of the Russian subsidiary.
EBI is the fourth largest brewer in Russia, with a market share of just over 10%. The company has three breweries in Russia with annual production capacity of 7.7m hectolitres.
EBI's Russian portfolio includes Stary Melnik and Sokol as well as licensing agreements for Efes Pilsener, Zlatopramen and Warsteiner.
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