SABMiller Announces Acquisition of a 71% Interest in Romanian Brewer - Bere Azuga
"Ursus Breweries is pleased to add one of the most recognised Romanian brands to its portfolio. The acquisition of Bere Azuga, which has a strong Romanian heritage, illustrates our determination to offer our customers a choice of high quality brands that span a range of different drinking occasions."
29/01/09 SABMiller plc announces that its Romanian subsidiary, Ursus Breweries, has acquired a 71% interest in the Romanian brewer Bere Azuga. Bere Azuga, which produces the Azuga and Valea Prahovei brands, operates from a single brewery located some 30 kilometres from the city of Brasov, in the central Transylvanian region of Romania and has an estimated market share of 0.6%.
Stephan Maria Weber, Managing Director of Ursus Breweries, commented:
"Ursus Breweries is pleased to add one of the most recognised Romanian brands to its portfolio. The acquisition of Bere Azuga, which has a strong Romanian heritage, illustrates our determination to offer our customers a choice of high quality brands that span a range of different drinking occasions."
Bere Azuga is listed on the Bucharest stock exchange and its market capitalisation on the last day of trading prior to this announcement was €9.3 million, based on a share price of €1.73. The value of the gross assets acquired is €24.8 million.
In accordance with local law and regulations, Ursus Breweries will seek the approval of the competition authority and in due course will launch a public offer for the shares it does not own.
