Minority shareholders in Voronezhsky brewery are looking to block the company's merger with Yarpivo, according to local reports. Vedomosti said today (31 August) that Emit Trading Ltd, a Cyprus-based company with a 1.5% stake in the Russian brewer, has claimed that the merger cannot go ahead without minority-owner backing. These smaller shareholders rejected the merger at a meeting in June, the paper noted.
Lawyers for Baltic Beverages Holding (BBH), which controls 61% of Yarpivo, told the paper that the move could proceed as, when the merger agreement was signed, Yarpivo owned over 75% of Voronezhsky.
BBH is in the middle of a legal struggle with minority shareholders at one of its other Russian breweries, Baltika. The shareholders oppose plans to integrate BBH's Russian brewing operations through Baltika's purchase of BBH's holding in Pikra Brewery.
Sectors: Beer & cider
Companies: Baltic Beverages Holding
