Slovenia: State took control of Jagodinska Brewery

The state once again owns 51.1 percent of Jagodinska Brewery stock, B92 News reported on January 10.

The contract with the previous buyers, Novi Sad’s Pan Beer and Slovenian Infond Holding, which formed a consortium in order to buy the brewery, was terminated.

Minority shareholders and Jagodinska workers were officially notified that their protest, maintained for over a year, has been resolved through the cancelling of the previous contract.

Serbia’s Development Fund, with 45.7 percent, and Pensions Insurance Fund (PIO), with 5.4 percent of stock, now have the majority ownership of the company.

Jagodinska Brewery (Jagodinska Pivara) was sold on August 29, 2006, for 75,000 euros, while the buyers accepted to invest further 4.5 million euros as their contractual obligation.

The minority shareholders believe that the company’s market value exceeds 20 million euros.