RUSSIA: Carlsberg to transfer Vena brewery to BBH

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Carlsberg Breweries has sold 49.9% in its St. Petersburg brewery OAO Vena Brewery (Vena) to Baltic Beverages Holding (BBH).

Carlsberg Breweries owns 50% of BBH, which has an option to buy the remaining shareholding in Vena in 2003.

Carlsberg had owned 99.9% of Vena following the acquisition of 33.32% from the European Bank for Reconstruction and Development. Minority shareholders own the remaining 0.1% of the share capital.

The sale are subject to approval by the Russian competition authorities.

In a statement Carlsberg said: "Selling Vena to BBH is a natural step in the process of concentrating the ownership and, consequently, the overall operating responsibilities for Carlsberg Breweries' activities in Russia, the Baltic countries and Ukraine with BBH, which has more than 10 years of experience in operating breweries in the countries mentioned. Furthermore, the Vena brands will complement the BBH portfolio of brands."

The sales will have no significant effect on Carlsberg Breweries' results for 2001.

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