25 May, 2005

Russia: SUN Interbrew may get involved in Siberian beer market

SUN Interbrew, Russia’s second largest brewing company, is considering a possible involvement in the Siberian beer market, local press reported on May 23. It could be an acquisition or a construction of a new brewery. SUN Interbrew is ready to invest between US$ 50 and US$ 60 million, according to sources. The vice-president of SUN Interbrew declined to comment on the deal.

Analysts said the target could be Irkutsk based brewery, ZAO Renova, the financial-holding company controlled by tycoon Viktor Vekselberg. They said Vekselberg is ready to sell his brewery for US$ 65 million. SUN Interbrew is ready to give only US$ 55 million, sources said.

Irkutsk brewery hold 25% of the Irkutsk region beer market. The company brews about 70 million litres of beer per year and has a turnover of US$ 30 million.

Russian newspaper Vedomosti said that SUN Interbrew, the Russian unit of InBev, is presently the most likely potential buyer for the company, which owns one of Siberia’s largest breweries. Both Heineken and Efes Breweries International may also be interested, the paper added.

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