Dutch brewer Heineken has agreed to purchase 51.11% stake in Slovenian brewery Pivovarna Lasko in a deal that will value the company at around $237m.
Heineken and Lasko's largest shareholder Bank Asset Management Company (DUTB) announced the deal, reported Reuters.
Investment funds KKR, CVC and Mid Europa Partners were also in the race of bidders.
Heineken is purchasing 51.11% stake of Pivovarna Lasko at $27.05 (€25.56) a share. It would later bid for the whole company in line with Slovenia's legislation, under which any party that buys at least a third of the company should make an offer for the remainder, added Reuters.
Sources report that the whole deal was initially worth a total of about €400m, including Lasko's debt, which forced the company to consider sale last year. DUTB owns 23.5% of Lasko.
The acquisition, meanwhile, comes just two weeks after Heineken announced a reshuffle of its executive staff.
Heineken Chief Executive Jean-Francois van Boxmeer said: "This acquisition strengthens our position within the region and will bring two complementary strong local brands into our existing portfolio".
Image: Heineken is engaged in brewing and selling beer worldwide. Photo: courtesy of Heineken N.V.
