Castel-Georgia to Deny Possible Sell

The FINANCIAL — JSC Castel-Georgia is the second large Georgian brewery to deny possible sell.

According to the recent information, the owners of JSC Castel-Georgia were determined to sell the company. As General Director says, the investors of Castel don’t intend to sell the company; they are not in any negotiations currently.

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“On the contrary, in order to increase production, the proprietor of JSC Castel-Georgia, once again invested money in new lines for PET and glass machinery production, Hanjo Stridde , General Director told The FINANCIAL.

In Stridde’s words, they just received this equipment and in two weeks, will install and exploit them.

JSC Castel-Georgia is a Georgian-French Joint venture, established in 1998. Main activity of the company includes the production of beer, wine and soft-drinks.

In 2007 Castel bought 85 000 hl Beer and soft drink in Georgia. This Year Castel is going to double the figure.

Last week information was spread about possible purchase of JSC Kazbegi, the second largest brewer in Georgia by Anadolu Efes Biracilik ve Malt Sanayii , the leading beverage company in Turkey.

Parties confirm talks on transaction but still the structure of new company is not clear.

According to Anadolu Efes official statement primary agreement is already reached. “We are expanding our business in Georgia with JSC Kazbegi, in partnership with Prof. George Topadze, who is the majority owner of Kazbegi business”, Cicek Usakligil, Investor Relations Manager of Anadolu Efes informed The FINANCIAL.

“At this stage, we can only say that the negotiations are held on establishing a new factory, but further details are not disclosed,” Tea Skhiereli, Kazbegi representative said.

She added they have agreement with the partner prohibiting details of talks. Negotiating parties refuse to disclose the cost of transaction expected.

Topadze, who is the former MP and the head of oppositional party “Industry Saves Georgia”, owns majority shares of Kazbegi, which had an estimated market share of 39% in Georgian beer market in 2007.