Black Sea/CVC To Place Buyout Bid for Montenegrin Brewery Pivara Trebjesa - Media

Black Sea should take over the Belgian brewery's 72.69% stake in Pivara Trebjesa by the end of the year, Montenegrin private daily Nezavisni Dnevnik reported.

The move comes after earlier this month Anheuser-Busch InBev, created by the merger of Interbrew and AmBev, said it had reached an agreement to sell to funds advised by CVC its operations in Bosnia-Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Montenegro, Romania, Serbia and Slovakia in a $2.2 billion deal (1.5 billion euro).

The group of operations will be renamed to StarBev, Istvan Szoke, Head of Central and Eastern Europe at CVC, has said.

After Black Sea acquires the 72.69% stake in Pivara Trebjesa, it must place a buyout bit for the shares of the minority shareholders. The price of the buyout bid was not disclosed yet, the daily reported.

According to private shareholder Miroslav Jelisic, quoted by Nezavisni Dnevnik, the real market value of Pivara Trebjesa is 180 euro per share but the expects the average price of the buyout bid to be 130 euro per share.

Pivara Trebjesa’s shares advanced 2.65% to 54 euro per share in 2,700 euro of turnover on NEX Montenegro, one of the two Montenegrin bourses, on Wednesday.

($=0.6680 euro)