Negotiations For The Sale of 51% of Lomsko Pivo Jsc Currently On Their Way

The sale of 51% of the capital of Lomsko Pivo Jsc () is currently being negotiated, the company announced. It is expected that the brewery will have a new majority owner by mid-2008.

900,000 shares of the capital will be offered at a closed mixed auction on December 6. The minimum bid per lot has been set at 3.50 leva, 1 lot being 1 share. There will be no maximum limit price. Both limit and market orders will be accepted.

The investment intermediary appointed for the procedures is Benchmark Finance Jsc. The shares offered at the auction represent 20% of the company's capital. In case of a successful auction the company's free-float will reach 45%.

Lomsko Pivo is planning to establish a company in Romania at the beginning of 2008 as a result of the growing demand for its products on the local market. The brewery plans to export more than 30% of its production to Romania and EU countries, which means production volume will have to be increased.

The company has also ensured 70% of the barley, necessary for the brewing process in 2008. As a result, the company expects a hike in both revenue and profit next year.

Shares were traded at prices between 3.90 and 4.05 leva today.

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