News

Finland’s Olvi plc acquires 90% stake in Lidskoe Pivo Brewery

Olvi plc of Finland has acquired a 90% stake in the Lidskoe Pivo Brewery, BelTA learned from Peep Akkel, financial manager at Olvi Group Baltics/Belarus. In late 2008 Olvi plc acquired a controlling stake in the Lidskoe Pivo Brewery (51%). The acquisition price was approximately $16 million. In September 2009 Olvi spent €4 million to increase its share in Lidskoe Pivo from 51% to 87.85%. The nominal cost of one share was Br616,000. This year the nominal cost of one share was increased up to Br675,000. The Lida Brewery was built in 1876. In 2000 it was reorganized into an open joint stock company. The Lidskoe Pivo Brewery makes beer, kvas, juice drinks, soft drinks and low-alcohol drinks, potable water. Olvi plc acquired a controlling stake in Lidskoe Pivo last year (51%). Olvi plc is one of Finland’s biggest beer and soft drink producers. It operates in Finland, Estonia, Latvia and Lithuania.