Coca-Cola Hellenic Bottling Company S.A. (Coca-Cola Hellenic) announced today that it has completed, together with Heineken N.V. (Heineken), the acquisition of 41.2% of minority shares in their joint venture company, Pivara Skopje, in the Former Yugoslav Republic of Macedonia (FYROM).
The total aggregate consideration for the transaction was €79.1 million (excluding acquisition costs) which was equally divided between Coca-Cola Hellenic and Heineken.
Coca-Cola Hellenic and Heineken now collectively own 96.5% of the shares in Pivara Skopje.
Pivara Skopje was established in 1924. In 1998 Coca-Cola Hellenic and Heineken together acquired the majority interest in the company. Today Pivara Skopje is the largest beer and soft drinks company in FYROM manufacturing, distributing and selling the brands of The Coca-Cola Company and Heineken.