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Home | News | International | Russia OKs Efes, SUN Interbrew

Russia OKs Efes, SUN Interbrew

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AB InBev-Efes will have 27% of beer volumes

Merger will strengthen hold on second place

The combination of Anadolu Efes and Anheuser-Busch InBev’s operations in Russia and Ukraine is now a step closer with the transaction receiving Russian regulatory approval.

According to Efes, the 50:50 merger has been approved by the Federal Antimonopoly Service of the Russian Federation. The agreement with ABI, which was announced in early August, is non-binding and awaits Ukrainian regulatory approval. Until then the companies continue to operate independently of each other.

Bringing together Efes and ABI’s Russian unit, SUN Interbrew will make the enlarged company a much more serious rival to market leader Baltika. According to Efes, it has around a 15% share of the market while Sun Interbrew holds 12%. An enlarged 27% market share would rival that of Baltika, placed by Efes as accounting for 31% of the country’s beer volumes.

SUN Interbrew, which is listed on the Luxembourg Stock Exchange wile owns 95% of the company either directly or indirectly, has five breweries and two malt plant in Russia and a further three breweries in Ukraine.

Anadolu Efes in Russia has a production network of six breweries offering a combined 21.7 million hectolitres in brewing capacity. It also operates four malt houses and one preform plant.

There’s no indication as yet as to whether the enlarged company will consider shuttering breweries post completion of the transaction.

The name of the combined company is intended to be AB InBev-Efes with AB InBev and Anadolu Efes to have equal representation on the board of directors. Tuncay Özihan, current chairman of the Anadolu Group and Anadolu Efes, is to serve as chairman.

Anheuser-Busch InBev has a minority equity stake in Anadolu Efes that it acquired as part of its acquisition of SABMiller.

 

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