E-Malt.com News article: 748

Danish brewer Carlsberg had raised its stake in Bulgarian brewer Pirinsko Pivo by acquiring 34,912 shares, the Bulgarian press reported. The acquisition increased Carlsberg's stake in the Bulgarian brewer to over 97.5% from 94.5%. The shares were purchased through a buyback offer to Pirinsko Pivo's minority shareholders.

The action means that Carlsberg is able to take the company off the Bulgarian stock exchange by delisting it.

Carlsberg bought 67.15% in Pirinsko Pivo in October 2002 for US$10m. In December 2002 Carlsberg boosted its stake to 94.5% through a buyback offer.


11 March, 2003