Ursus Breweries plans four-fold boost in Bere Azuga capital

Ursus Breweries, majority shareholder of Bere Azuga said it planned a four-fold increase in common capital of the brewer to raise 41 million lei up to 54.4 million lei.

Bere Azuga’s current share capital is 13.4 million lei.

The company will seek approval for the move at a shareholders’ meeting on August25. Subsequently, the brewer will issue 5.12 million shares at a nominal value of 2.50 lei and a share issue premium of 5.50 lei/unit.

Ursus Breweries is currently running a public takeover offer by which it plans to acquire the remaining 29.4% equity of Bere Azuga, offering to minority investors 12.64 million lei.

Ursus Breweries, local subsidiary of SABMiller plans to buy the 1.58 million Bere Azuga shares at a price of 8 lei/share, after its previous buyout of 70.56% equity on Rasdaq market for 7.15 million euros.

The public takeover offer started on June 24 and will end today, deal brokered by Raiffeisen Capital & Investment.

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