Danish beer maker Royal Unibrew has offered to buy out minority shareholders in a Lithuanian subsidiary.

Royal Unibrew, Denmark's number two brewer, has made an offer to the remaining investors in Lithuanian beer maker Kalnapilis. Royal Unibrew already holds a 98.46% interest in the brewer and has offered to pay LTL17 a share to buy the remaining stake.

The offer values Kalnapilis, one of two Lithuanian breweries owned by Royal Unibrew, at LTL175.2m (US$59.4m).

The buyout offer closes on 31 December.