Royal Unibrew, the Danish brewer, is to sell its shares in its Dominica, St. Vincent and Antigua breweries to Cerveceria Nacional Dominicana (CND) in a bid to reduce its debt.

An agreement has also been made with CND for licenced production of Royal Unibrew's Vitamalt brand, the company announced today (13 August).

The stake sales are expected to reduce Royal Unibrew's interest-bearing debt by almost DKK200m (US$38m).

The sale comprises of Royal Unibrew's shares of St. Vincent Breweries (76.5%), Antigua Brewery (93%), Antigua PET Plant (75%) and Dominica Brewery & Beverages (58%).

The total consideration for the shares amounts to US$31m.

The transaction will close at the end of the year and is not expected to affect the group's full-year earnings (EBIT).

In June, Royal Unibrew received approval from competition authorities to sell its Koszalin brewery in Poland to local beer group Van Pur.