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RUSSIA: Alfa Eko grabs 10% of Sun Interbrew

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A unit of Russian private financial company Alfa Group said on Tuesday it had acquired 10.4% of the voting shares in brewer Sun Interbrew in the form of global depository receipts (GDRs).

The acquisition makes Alfa Group's Alfa Eko the third-biggest holder of voting shares in Sun Interbrew, which is the No. 2 brewer in Russia and market leader in Ukraine.

In a statement, Alfa Eko said: "The acquisition of these shares is motivated by the group striving to occupy a serious position in the beer industry in Russia and the Commonwealth of Independent States."

Alfa Eko plans to call for an extraordinary shareholders' meeting at Sun Interbrew to install one or several of its representatives on the board of directors.

"Of course we will obtain places on the board of directors. We believe a Russian partner with experience of mergers and acquisitions will be useful to the company's management," Alfa Eko director Igor Baranovsky told Reuters.

"We will conduct talks. We don't want to act in an unfriendly or aggressive manner."

Baranovsky did not reveal how much the shares had cost.

Sun Interbrew is the Russian-Ukrainian subsidiary of Belgium's Interbrew and India's Sun Group.


Sectors: Beer & cider

Companies: Anheuser-Busch InBev

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