InBev has closed its acquisition of the Tinkoff brewery in St. Petersburg, Russia.

In a statement yesterday (16 August), InBev said that it has paid an enterprise value of €167m for a 100% stake in Tinkoff.

The transaction will immediately add 2.3m hectolitres of capacity (expandable to 4.8m hectolitres) to InBev's current Russian platform, the brewer added.

InBev announced in July that it would proceed with the purchase. The company said at the time that it expects the acquisition of Tinkoff to be accretive to operating results in 2006, and that ROIC - WACC will break-even in 2007.

Oleg Tinkov will now join the board of directors of SUN Interbrew Ltd. Tinkoff's restaurant business is not part of the transaction and this business will be retained by Tinkov.