The Dutch conglomerate Heineken announced on Monday that the vast majority of small shareholders of Pivovarna Laško accepted its offer to buy back their shares.
As a result, Heineken increased its ownership stake in the Slovenian brewing industry from 43.49 to 96.92 percent. Heineken’s offer to acquire the shares of minority shareholders on the same terms and price as the shares of banks and funds it purchased last year was valid until January 15 and was successful, Heineken reported. This increased its ownership stake to 96.92 percent, making the acquisition of Pivovarna Laško, which has two large breweries in Laško and Ljubljana, successful under Slovenian takeover law.
The offer from Heineken was also accepted by the management of Pivovarna Laško, led by Dušan Zorko, who sold their shares at a price of 25.56 euros per share. Heineken thus secured the repayment of 185 million euros in loans that both breweries had with banks, strengthening its regional position while retaining the existing brewery brands in the local market.
The Slovenian beer and mineral water industry had to be sold after it had primarily serviced high financial obligations to banks with most of its revenue in recent years, which had to defer repayment deadlines, and after its profit was reduced to nearly a quarter last year in the first half of the year – to 5.5 million euros.
