THE NETHERLANDS: Heineken increases stake Kazak brewery
The Dutch brewer Heineken has reached an agreement with its co-shareholders to increase its stake in Kazakhstan-based brewer Dinal LLP from 28% to 51%. The deal is being financed from Heineken's available cash resources, the company said.
No other financial detals were available.
"The acquisition represents a further strengthening of Heineken's position in fast growing beer markets," a statement said.
Dinal has a market share of 8% with the local brand Tian Shan and the international brand Amstel. The sales capacity of the brewery is 300,000 hectolitres and the estimated sales volume for 2002 is 180,000 hectolitres.
In 2001 the net turnover amounted to €8m. The brewery employs 150 people. Heineken acquired its initial 28% stake in 1999, the year in which the Dinal brewery commenced production.
The beer market of Kazakhstan has a total volume of about 2.4m hectolitres in 2002 and is growing by double digits annually.
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