HEINEKEN is set to acquire a majority stake in Slovenian brewer Pivovarna Lasko for €224m (£162m), it was announced yesterday.
Under the terms of the agreement Heineken, the world’s third largest brewer, will buy a 51 per cent stake in Pivovarna for €25.6 per share. Pivovarna was forced to put itself up for sale last year after struggling with a rising debt pile.
It was reported that the Dutch giant beat off competition from investment giants CVC and KKR.
Heineken views the purchase as a way of gaining access to Adriatic markets, as well as securing Slovenia itself which is positioned between several of its mature markets such as Italy, Austria and Croatia.
Jean-Francois van Boxmeer, chairman and chief executive of Heineken, said: “This acquisition strengthens our position within the region and will bring two complementary strong local brands into our existing portfolio. We are very much looking forward to welcoming Pivovarna Lasko as a successful member of our group.”
Completion of the takeover will still be subject to regulatory approval and will be followed by a mandatory takeover offer to shareholders.