RUSSIA: Efes to consolidate Krasny Vostok stake - report
Efes Breweries International is planning to consolidate its stake in its Russian subsidiary, according to reports.
AFX International Focus reported yesterday (6 November) that the Dutch-based holding company will partially finance the consolidation of Krasny Vostok Brewing Group into Moscow Efes Brewery - for about US$368m - using the "proceeds of a previously announced ruble bond issue, and the balance through a capital increase".
No-one was immediately available to confirm the reports at EBI, when contacted by just-drinks today.
Efes 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, and a Russian portfolio which includes Stary Melnik and Sokol as well as licensing agreements for Efes Pilsener, Zlatopramen and Warsteiner.
Efes Breweries International (EBI) today announced strong full year profit growth as the company benefited from advances in sales revenues and volumes and offset rising pressure from costs....
Efes Breweries International has completed the acquisition of the Georgian drinks group Lomisi....
Efes Beverage Group has acquired the Asian drinks group Lomisi....
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