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Babruysk-based brewery said to be in talks with potential foreign investors

The chief executive of the Babruysk-based Syabar brewery said that the company was in talks with potential foreign investors on the sale of a majority stake.

While talking to reporters in Minsk on Wednesday, Syarhey Levin said that the brewery was in talks “with many large companies” but declined to elaborate.

BelaPAN has learned that Heineken, the fourth largest brewing company in the world, is regarded as the most likely investor.

Syabar was founded in February 2004 by Detroit Belarus Brewing Company (DBB Company), which belongs to Detroit Investments Ltd. and the International Finance Corporation, and by the Babruysk-based Dzednava brewing company that provided its facilities for the new brewery.

DBB Company owns 75 percent and Dzednava more than 20 percent in the brewery whose authorized capital stock reportedly amounts to $8.2 million.

Mr. Levin, who currently serves as chairman of Syabar’s supervisory board, announced plans to quit his position before the end of the year.

According to the Belarusian State Food Industry Concern, Syabar raised its output by 66.5 percent year-on-year to nearly 4.4 million decaliters in the first nine months of 2007. The brewery plans to increase its output capacity to 17 million decaliters next year and up to 20 million decaliters in 2009.