SABMiller’s Ursus Breweries buys 71 percent stake in Bere Azuga

Bere Azuga is listed on the Bucharest stock exchange and its market capitalisation on the last day of trading prior to this announcement was EUR 9.3 million, based on a share price of EUR 1.73. The value of the gross assets acquired is EUR 24.8 million, says SABMiller.

In accordance with local law and regulations, Ursus Breweries will seek the approval of the competition authority and in due course will launch a public offer for the shares it does not own.

With a population of 21 million people and 20 million hl of beer production (2007), Romania is one of Europe’s major beer markets. Romanians drink an average of 91 litres of beer per year, reports SABMiller. SABMiller entered the market in 1996. Heineken, with four breweries, claims to be the market leader with a 26 percent share.