RUSSIA: Sun Interbrew responds to Alfa purchase
Interbrew has authorised additional share purchases of its Russian division Sun Interbrew Ltd. of up to 75.5% of voting shares. In a statement released yesterday, Sun and Interbrew said they have also agreed to certain provisions designed to ensure that the balance of control between them is not affected by the possible purchases of additional voting shares.
The move follows a 15% purchase of Sun Interbrew by Alfa Eco, a part of Alfa Group, as well as the announcement that Alfa intended to buy more of the company earlier this month.
Sun and Interbrew exercise strategic and operational control over the company under the Articles of Association and by virtue of the Shareholders Agreement entered into by Sun and Interbrew, the statement said.
Sun Interbrew has eight breweries in Russia and three in Ukraine as well as its own distribution network.
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