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Carlsberg to roll Lviv Brewery into Slavutych

Carlsberg to roll Lviv Brewery into Slavutych

2 July 2010

Carlsberg Group announced yesterday that it would merge Lviv Brewery into Slavutych (UX: SLAV UK), Interfax reported yesterday. The merger was approved by a Lviv Brewery shareholder meeting on June 29. Ruslan Patlavskyy: In our view, consolidation should favor Slavutych investors as it will grow Slavutych’s statutory capital by only 7.7% to UAH 1,022 mln and will increase consolidated capacities by 34% to 99 mln dal. We believe this will add UAH 50-60 mln to Slavutych’s bottom line in 2010 to an estimated UAH 331 mln (+49% yoy).

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