Deal on Baltika's purchase of Azerbaijani brewery complete

It should be reminded that an agreement on Baltika's purchase of its first foreign asset-Baku brewery-was signed in May of this year.

As is planned, the new owner is ready to assimilate production of its several brands of beer on the plant, simultaneously, preserving the existent assortment (Castel, Hirdalan, 33 Export, Bizim Pive and Efsane).

In the future, Baltika plans to produce licensed brands (Kronenbourg and Nevskoye) in Azerbaijan and grow up brewer's barley in the country.

Baltika's overall investments to development of Baku-Castel producing capacities will near $20,000,000.

Baltika was founded in 1992. Its biggest shareholder since 1993 has been Baltic Beverages Holding A.B. (Danish Carlsberg has recently become the only owner of the holding), with 85.54%, with minoritaries (2500 persons) owning 14.46%.

Baltika has 11 breweries in 9 regions of Russia and one in Azerbaijan.

The net income of the company has risen 13.5% through the first half of this year by the world financial reporting standards, up to EUR 213,600,000 against EUR 188,200,000.

The company's receipts from the sale has risen 16.8% from EUR 1,067,300,000 up to EUR 1,246,890,000.

/RBK/