02 August, 2006

Russia: Baltika completes merger with 3 breweries

Russia's top brewery, Baltika , has completed a swap of its shares for shares in Vena, Pikra and Yarpivo, getting over 90 percent of the shares in the three firms, a Baltika official said July 01, Reuters accordingly reported.

As a result of the swap, Baltika, controlled by Scottish & Newcastle and Carlsberg, acquired 92 percent of shares in Pikra, 97.5 percent of Vena and 91 percent of Yarpivo, Baltika Deputy Director in charge of legal issues Alexei Yelfimov told Reuters.

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