The Belgian brewing combine, Interbrew, has said that it is “surprised” by the ruling by the Slovenian Competition Protection Office regarding the ownership of the brewer, Pivovarna Union, announced yesterday.

Dismissing fears voiced by Interbrew that the stake held by the country’s largest brewer, Pivovarna Lasko, in rival Pivovarna Union could give it an effective monopoly, the Slovenian competition authority said: “There is no concentration (monopoly) as Pivovarna Lasko has not reached the threshold of shares that would represent a more than 50% stake in Pivovarna Union’s capital.”

However, in response to the ruling Interbrew, which owns a 41% stake in Pivovarna Union, said: “The decision fails to take into account the connections between Lasko and other Union shareholders, which own a further 8% of Union shares and are connected to Lasko. Also, the CPO decision provides that, should concentration be proven in the future, the then applicable remedies would allow Lasko to retain full ownership and control of over 90% of Slovenia’s brewing capacities and brewer-owned distribution and commercial assets.”

Interbrew added that the CPO had not fully investigated the links between Lasko and its broker Cogito and food processor Perutnina Ptuj, in which Lasko is a large shareholder. The combined shareholding of Lasko, Cogito and Perutnina Ptuj amounts to 56% of Union’s shares. Therefore, such a link will continue to provide Lasko with all means to exercise de facto control over Union. “CPO’s decision, as it currently stands, allows such control to also become legally valid”, Interbrew said.

Interbrew said it will study further the full implications of the 60 page long CPO decision and will take “all necessary steps to protect its investment in Pivovarna Union”.

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