Bass starts talks to buy Czech brewer
Thursday 16 January 1997
Having increased its stake in the Radegast brewery last week from 20 to 33 per cent, Bass said it was confident of striking a deal before the end of the year with one of the brewer's other main shareholders. To do so it would have to strike a deal with IPB, the bank which owns 34 per cent of Radegast and has so far opposed the acquisition by Bass of a stake from another Czech investor.
Bass country manager Mervyn Childs said yesterday that because there were few shares left available on the open market, Bass was now focusing its attention on IPB. "I hope that our discussions will lead to something, certainly within the course of this year," Mr Childs said.
Bass already owns 51 per cent of Prazske Pivovary, which controls about 14 per cent of the local market compared with the 16 per cent share claimed by Radegast. It has ambitions to create a group with around 25 to 30 per cent of the Czech domestic beer market and is understood to favour an eventual merger between the two brewers.
Bass moved into the Czech beer market in 1993 when it took a 34 per cent stake in Prague Breweries. The British group now also owns majority shares in two small regional Czech breweries, Vratislavice and Ostravar.
Apart from moving into the Czech market, which boasts the world's highest per capita beer consumption, Bass has been keen to push Czech beers in western Europe and Russia.
Bass and IPB have become the two largest shareholders in the Czech brewing industry, which is barely profitable but is considered to have big export potential. Prague Breweries, whose premium brand is Staropramen, has seen exports surge to 290,000 hectolitres in 1996 from 109,000 hectolitres in 1994.
Whoever wins control of Radegast, the most profitable and efficient of the big brewing groups, will have the dominant role in the industry and the largest portfolio of brands.
Bass is moving to expand its overseas operations to diversify away from the mature UK beer market, where it is currently embroiled in a Monopolies and Mergers Commission investigation into its planned takeover of Carlsberg Tetley.
- 1 The truth about 'girl things': Three cheers for Heather Watson's honesty
- 2 Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
- 3 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 4 Tennis fan suing Australian Open organisers for 'failing to shade spectators' during Murray match
- 5 Syrian refugee child beaten by Istanbul Burger King manager for eating customer’s leftover food
Man who held up 'hire me' sign at Waterloo station returns a year later with 'I'm hiring' sign
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Rob Lowe hits out at White House decision not to meet Israeli leader
Iraq invasion 2003: The bloody warnings six wise men gave to Tony Blair as he prepared to launch poorly planned campaign
Winston Churchill: From accusations of anti-Semitism to the blunt refusal that led to the deaths of millions
British Muslim leaders outraged after Eric Pickles says followers of Islam should 'prove their identity'
UK terror fears: My jihadist son returned from Syria mentally scarred – now he is being ignored
Nigel Farage: NHS might have to be replaced by private health insurance
Billy Crystal: 'Stop shoving gay sex scenes in my face'
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
iJobs Money & Business
Negotiable: Recruitment Genius: A Tax Assistant is required to join a leading ...
£16000 - £25000 per annum: Recruitment Genius: This is an exciting opportunity...
£45000 - £47000 per annum + bonus + benefits: Ashdown Group: Java Developer / ...
£35000 - £38000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...