BELARUS NEWS AND ANALYSIS

DATE:

22/05/2008

Heineken acquires Rechitsa brewery in Belarus

AMSTERDAM (Thomson Financial) - Heineken N.V. said that it will buy the Rechitsa brewery, strengthening its' number two position in Belarus, with a market share of 24 percent.

Under the terms of the transaction, Heineken has agreed to invest $9.9 million or 6.4 million euros, to increase the share capital of Rechitsa, ultimately leading to a 51 percent share in the company.

The transaction will be financed from existing credit facilities.

The buy is expected to be earnings enhancing immediately and value enhancing in 2010.

In 2007, Rechitsa sold 285,000 hectolitres, or a national production share of 8 percent. The brewery, has a technical capacity of 525,000 hectolitres, and employs 588 staff. The portfolio consists of mainstream beer brand Rechitsa and its six sub brands, the economy brand Dneprovska and a newly launched premium brand, BergG.

Source:

http://www.iii.co.uk/news/?type=afxnews&articleid=6724380&action=article

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