The European Bank for Reconstruction and Development (EBRD) has made a loan of US$25 million to Efes Brewery, to help the Turkish beer company acquire the Russian brewery Amstar, based in Ural, the Istanbul Stock Exchange announced on August 6. The loan will be offered for six years, said the Russian press. EBRD said that half of its six-year loan to Efes has been syndicated to Abn Amro Bank. Amstar acquisition will make Efes the third largest brewery in Russia, one of the world's fastest growing beer markets.

The $25 million loan, half of it syndicated to ABN AMRO Bank, is being funded under a $75 million regional facility the EBRD agreed to provide to the parent company of Efes to back expansion in the EBRD's countries of operation.

Moscow Efes Brewery is a subsidiary of Efes Breweries International. Amstar, located in Ufa, has an annual brewing capacity of 1.2 million hectoliters and produces and markets the Sokol brand in the local premium segment, the company said.

11 August, 2003