The Bulgarian press reported over the weekend that the Danish brewer Carlsberg had raised its stake in brewer Pirinsko Pivo by acquiring 34,912 shares.

The acquisition takes Carlsberg's stake in the Bulgarian brewer to over 97.5% from 94.5%.

The shares were acquired through a buyback offer to Pirinsko Pivo's minority shareholders. And the move means that Carlsberg is able to take the company off the Bulgarian stock exchange by delisting it.

Carlsberg bought 67.15 pct in Pirinsko Pivo in October 2002 for US$10m. In December 2002 Carlsberg boosted its stake to 94.5 pct through a buyback offer.