17 January, 2003

Turkish brewer Anadolu Efes Beverages Group bought Moldova's biggest brewer, Vitanta-Intravest. The deal could be realised after January 13, 2003 when the tender offered by "Efes Breweries International B.V.", a subsidiary of "Efes Beverage Group" based in Holland, expired. The value of deal comes to 167.56 million lei (US$11.97 million), an official at Moldova's National Securities Commission said. As a result Efes Beverage Group acquired 96.5% of Vitanta-Intravest. 85.59% of shares were bought from American venture fund "Western NIS Enterprise Fund", the former owner of Vitanta-Intravest.

The Turkish brewer previously said the purchase was part of its strategy to become the fastest growing European brewer. Efes is also planning to invest between seven and 10 million dollars by 2005 to upgrade the brewer, which controls over 70 percent of the beer market in Moldova, an ex-Soviet country of more than four million people, situated in Eastern Europe.

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