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Business news, 09.04.2005 17:23

Baltika Buys Pikra Stake

Baltika Russia's largest brewer Baltika bought a 16.38 percent stake in the East-Siberian Pikra brewery, Baltika said Thursday in a statement, news agency Itar-Tass reported.

Baltika would not name who it had purchased the stake from or how much it had paid in the deal, the agency said. The St. Petersburg-based brewer did not hold any shares in Pikra previous to the purchase.

Pikra is Siberia's largest producer of beer and non-alcoholic beverages. The company's annual capacity totals 180 million liters of beer and 50 million liters of non-alcohol ic drinks.

Baltika's owner, Baltic Beverages Holding (BBH), held a 59 percent stake in Pikra in late March, Itar-Tass said.

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