A consortium between the Swedish brewer United Nordic Beverages and Lithuanian Alita has bought a stake in Serbian brewery Beogradska Industrija Piva.

The consortium said it has paid EUR21.4m (US$29.6m) for its 52% stake in BIP, which has an annual capacity of 1.5m hectolitres of beer, and plans to invest EUR5.1m in an effort to modernise the brewery by 2010.

The Serbian government agreed to sell the brewery in July, after choosing the bid of Alita and United Nordic Beverages over the Slovenian brewer Pivovarna Lasko.