VALBY, Denmark, May 23, 2002 (PRIMEZONE) -- Carlsberg Breweries A/S increases its shareholding in the Panonska brewery to 80 per cent by acquiring Podravka Food Industries' 40 per cent shareholding. The purchasing price is approx. USD 11 million. With this acquisition, Carlsberg Breweries wants to secure greater influence on the future development of the brewery. IOE (Investment Fund for Central and Eastern Europe) owns the remaining 20 per cent of the share capital.
Carlsberg's history in Croatia and its cooperation with Podravka date back to 1971, when an agreement regarding the brewing and marketing of Tuborg beer was entered. In 1995, Carlsberg acquired a 40 per cent shareholding in Panonska.
In order to extend the capacity, approx. USD 50 million was invested in 1977 in a modern and efficient brewery, which was built by Danbrew Ltd. A/S. A subsidiary of Carlsberg Breweries.
2001 Facts
Turnover USD 40.3 million Production, beer 396,000 hl Market share 11 per cent Per capita consumption 74 litres Number of employees 310 Beer brands Tuborg, Kaj, PAN, Podravka Pivo
Yours faithfully Carlsberg A/S