Serbia & Slovenia: Pivovarna Lasko fails in bid to acquire Serbian brewer

Slovenian beverage group Pivovarna Lasko has failed in its bid to acquire 52% of a Belgrade-based brewer, according to Slovene Press Agency, June 7. Serbian Privatisation Agency said that the competition for the stake in Beogradska industrija piva (BIP) was won by a Swedish-Lithuanian consortium.

While United Nordic Beverges of Sweden and Alita of Lithuania offered EUR 4.5 per share or a total of EUR 21.4m for the 51.9% stake in BIP, Pivovarna Lasko was prepared to pay EUR 2.5 per share or EUR 11.8m for the stake.

The Slovenian group, whose flagship product is beer, was willing to invest another EUR 9m, or twice as much as the selected consortium in what used to be the largest Serbian brewer.

This was not enough to make up for the difference in the price offered for the ownership stake.

Only two bidders applied for the call for tenders for BIP's takeover.