Heineken has agreed to buy Slovenian brewery Pivovarna Lasko in a deal valuing the company at €224 million, Lasko's largest shareholder Bank Asset Management Company (DUTB) has said.
Sources said Heineken outbid investment funds CVC, KKR and Mid Europa Partners.
DUTB, which owns 23.5 per cent of Lasko, said Heineken, the world’s third largest brewer, would pay €25.56 per share and buy more than 51 per cent of Lasko.
Heineken would later have to bid for the whole company in line with Slovenian legislation which requires anyone that buys at least one third of a company to make an offer for the rest.
The deal is worth a total of about €400 million when considering Lasko’s debt which forced the company to put itself for sale last year, the sources said.
Lasko represents a small add-on deal for Heineken, which has pushed into Mexico and spent over $6 billion in 2012 to take full control of the Asian brewer of Tiger beer. – Reuters
