Russia: Efes buys out minority stake in Moscow Efes Brewery

Efes Breweries International N.V. (EBI), the Holland based 70% subsidiary of Anadolu Efes Biracılık ve Malt Sanayii A.Ş. announced on February 17 it had acquired a 12.4 % stake in its Moscow Efes Brewery from Amsterdam Brewery Investment B.V. (ABI), bringing its own share from 71.0 % to 83.4 %. EBI said “it has signed a Share Purchase Agreement to acquire all the shares that were held by Amsterdam Brewery Investment B.V. (“ABI”) in Moscow Efes Brewery (“MEB”), EBI’s operating subsidiary in the Russian Federation”.

ABI entered the shares capital of Moscow Efes Brewery (MEB) in 2003, when ABI sold and MEB acquired 100% of OAO Amstar brewery, which brews Sokol beer, under the conditions of shares exchange.

EBI, which has more than 10 % market share in Russia's fast growing market, has not revealed how much it paid for the stake. UFG appreciated the amount of deal at US$ 119 mln. Other shareholders of Moscow Efes Brewery remain EBRR (8.6 %) and other minorities (8%).

EBI is 70 % owned by Anadolu Efes and has 11 breweries.