Nordic Business Report-December 21, 2006-Baltic Beverages Holding AB invests in Belarus market (C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com The Anglo-Danish brewery group Baltic Beverages Holding AB (BBH) said on Thursday (21 December) that it was investing in the privately-owned Olivaria Brewery situated in the centre of Minsk, Belarus. The company said the investment was in line with its strategy of entering growth markets. BBH believes that, with a growing economy and rising beer consumption, the market in Belarus has strong future potential. Olivaria Brewery was established in 1864, and it has a market share of approximately 10%, brewing capacity of 400,000 hectolitres and 600 employees. The European Bank for Reconstruction and Development (EBRD) has been a major shareholder in Olivaria since 2005. As part of the continuing development of the business the current shareholders have been looking for an international partner. BBH has subscribed to 30% new shares in the company. After the capital increase EBRD will have 21% of the shares. No financial information was provided. Baltic Beverages Holding AB is a 50/50 owned joint venture between Carlsberg A/S and Scottish & Newcastle plc. BBH operates 19 breweries in seven countries in Eastern Europe. Carlsberg is headquartered in Copenhagen, Denmark. The company has over 30,000 employees at 92 production sites in 48 countries. Carlsberg is listed on the Nordic Exchange in Copenhagen. ((Comments on this story may be sent to [email protected]))