Danish brewer Carlsberg said it had raised its stake in the Minsk-based Olivaria Brewery and expected the Belarusian market to be stable in 2010, the news agency Reuters reports.
The company paid an unspecified amount to raise its stake in the brewery to 47 percent from 30 percent, in line with its aim of being the majority shareholder in its joint ventures, a spokeswoman said in an email to Reuters. The Belarus beer market is close to 450 million liters annually. Olivaria is the third-largest brewer in the Eastern European country, has 475 employees and produces 15 beer brands including Alivaria, Brovar and Data 1864. Carlsberg gained market share in a falling Belarus market in 2009, the company has said. "Last year our forecast for 2010 was an up to 4 percent decline. Now we expect the market to be stable in 2010 compared to 2009," the spokeswoman said.