E-Malt.com News article: 162

The brewery group Baltic Beverages Holding (BBH) are going to sell its 86.6% share in Kalnapilis brewery, a Lithuanian brewery, to Bryggerigruppen A/S for about 36.8 million euros. The minority stake in Kalnapilis is held mainly by the brewery's employees.

BBH said this sale is due to a demand by the Lithuanian’s competition watchdog. BBH is owned by Finnish Hartwall and Danish Carlsberg at 50/50.

Due to this announcement, the price of shares in Lithuanian brewer Kalnapilis increased by more than 15 percent early on Monday. At 09:05 GMT, the stock was trading 15.32 percent higher at 5.32 litas ($1.33)


09 October, 2001