Heineken Gets Almost Full Control Of Bulgaria's Zagorka
The largest European brewer, Heinenekn, successfully completed negotiations for the acquisition of Coca-Cola HBC's share in Bulgaria's Zagorka brewery, said the Dutch company in a statement.
Thus Heineken will hold 98.86% of Zagorka. The remaining 1.14% are held by private shareholders.
Zagorka is among the leaders in Bulgaria's beer market. In 2013 Zagorka's brands held 29% of the market.
Heineken refused to comment on the price of the deal, but, according to the Capital Daily business daily, the sale will be complete in Q4 of 2014.
According to Zagorka's CEO Nikolai Mladenov, quoted in a press release, the Heineken investments in the brewery will continue.
Currently it employs 510 people in Stara Zagora. In the past 20 years in the brewery were invested more than EUR 133 M.
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