Business News

Brewery Pivovarna Laško Looking for Strategic Partner

Laško, 08 July (STA) - The supervisors of brewery Pivovarna Laško were informed by the management board on Tuesday about ongoing desinvestment in the Laško group and the start of a search for a stretegic investor willing to provide at least EUR 75m in fresh capital.

The capital increase is envisaged in the debt restructuring deal signed with the banks, the company said in a press release.

The Laško group generated EUR 76m in sales revenue in the first five months this year, which is EUR 8m or nearly 10% less than in same period last year. Earnings before interest, taxes, depreciation, and amortization reached EUR 14.7m, the supervisors were told.

Laško CEO Dušan Zorko said after last week's AGM that he expects an appropriate investor will be found and that "all the criteria" will be considered in the selection process.

Zorko hopes that the next assembly meeting dealing with this can already be called before the end of the year.

The daily Dnevnik has reported that interest in Pivovarna Laško has been expressed by Turkey's Efes Pilsen, the Israeli brewery group Tempo Beer Industries, the North-American Molson Coors group, the world's second biggest brewer SABMiler, Denmark's Carlsberg, Heineken from the Netherlands, and the Belgian-Brazilian AB InBev.

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