The Russian-Ukrainian unit of Belgian Interbrew, Sun Interbrew, announced on March 28 that is to purchace eight breweries in Russia. Joe Strella, Sun Interbrew's manager for Russia, said: "There are eight breweries (we are interested in buying) and if they come up for sale we will look at them very closely." However no specific names were mentioned. The company also said it would not be building any new plants.

Sun Interbrew is to issue a bond of between €50m and €100m this year. Alan Hibbert, chief financial officer, said the reason of the action is to refinance some of its €150m debt. The company hasn't decided whether to issue a Eurobond or a local ruble bond, added Hibbert.

Sun Interbrew posted a net loss according to generally accepted accounting principles (GAAP) of €3.6m for 2002, against a net profit of €22.4m in 2001.

01 April, 2003