RUSSIA: State brewery stake to be sold off
The Bashkortostan Property Ministry has announced that it is to sell a major stake in the state-owned brewery, Shikhan, in the first half of August.
The government, which owns 71% of the company, is planning to sell off a 46% stake. Analysts expect the starting price for the auction will be around R350m. The Shikhan management and employees control the remaining 29% of the company.
Shikhan accounts for around 1% of total Russian beer output and expects to produce in the region of 13m decalitres this year and 20m decalitres next year.
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