RUSSIA: Sinergia prepares for IPO - report

By just-drinks.com editorial team | 18 October 2007

Sinergia is looking to release a stake in the company in an IPO in Russia.

The group, which produces vodka, said yesterday (17 October) that it hopes to sell a 20% stake on Russian stock exchanges between now and the end of this year, according to local reports. Sinergia, which is the country's second largest alcohol producer behind Russian Alcohol, hopes to raise between US$80m and $85m from the offering.

Last month, Russian Alcohol, which owns Green Mark vodka, put itself up for sale. The sale, which industry sources believe will be for around $600m, is expected to complete by the end of this year.

Sinergia owns the Gosudarev Zakaz, Russky Led and Traditsii Kachestva vodka brands. Sales at the group, which also produces food and operates in the retail trade, reached RUB8.42bn (US$339.2m) last year.

Sectors: Spirits