RUSSIA: Pikra eyed for BBH consolidation
Baltic Beverage Holdings plans to begin consolidating its Russian assets with the brewer Pikra, a press report said today.
Reuters cited a company spokesman who said the consolidation of BBH's 70.32% stake in Pikra, worth US$67.5m, was on the agenda of a 7 July shareholders meeting.
The joint venture between Carlsberg and Scottish & Newcastle is looking to consolidate its Russian business through its major brewer there, Baltika.
This move would give Baltika 86.7% of Pikra, up from 16.38% now.
Scottish & Newcastle and Carlsberg said today that their Eastern European joint venture Baltic Beverage Holdings had seen sales volumes lift 14% in the first quarter of the year, compared to the same ...
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