Sun, Nov 22 2009

Kamenitza could change owners this week – Dow Jones

Wed, Oct 14 2009 09:24 CET byDnevnik.bg 942 Views
Bulgarian brewer Kamenitza and other companies in Eastern Europe, owned by Belgian brewer Anheuser-Busch InBev, could be sold to investment fund CVC Capital Partners, Dow Jones reported, quoting sources close to the negotiations.

The two parties are still hammering out the conditions on a commercial loan that will provide CVC with the amount the brewer seeks for its business in Central and Eastern Europe. CVC offered to pay 1.55 billion euro for the package of regional breweries, which is short of the two billon euro price tag set by the Belgian company.

Dow Jones claimed that CVC has secured a 750 million euro bank loan to bankroll the deal. The two companies are in talks for AB InBev to cover the shortfall between its expected price and CVC's offer with a vendor loan.

The brewer was unlikely to receive any interest on the loan, which would be repaid in several installments. The exact size of the loan was not specified, but it is expected to range between 450 million and 500 million euro.

The potential transaction would be AB InBev’s second major asset sale this month after last week it agreed to unload its theme-parks for $2.7 billion to investment fund Blackstone as it seeks repay debt taken on in InBev's $52 billion acquisition of Anheuser-Busch in 2008.

Source: Dnevnik

Write comment

Name:Comment:

Generate new code
Send your comment
Kamenitza for sale - report

Anheuser-Busch InBev was considering the sale of its operations in Central and Eastern Europe, Belgian newspaper Le Soir reported on June 13.

More in this category

Bulgarian MPs resurrect proposal to raise spirits excise

Strong public opposition to price hikes prompted Prime Minister Boiko Borissov to axe the Finance Ministry proposal to increase the excise duty on spirits, but MPs have put it back on the agenda.

Back to the future

Bulgaria’s Cabinet seeks to reverse recent changes in the telecommunications sector

At a crossroads, again

Kremikovtzi’s prospects for a recovery plan appear increasingly distant

Cash or card?

Bulgarians are getting the hang of debit and credit cards, MasterCard says

Bulgarian telecom Spectrum Net acquires local peer Orbitel

The two telecoms, both set up to challenge former fixed-line state monopoly BTC, will merge operations and expect to report 20 million euro in revenue and a gross profit of five million euro in 2010.

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.