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3-2019

Russia: Positions of Brewing Companies

The review contains an analysis of interim performance of brewers in the first half of 2019. There are rather dynamic changes behind a modest industry growth. Baltika is again experiencing a stage of volumes and market share slid due to competition with AB InBev Efes. Because of the price competition and presence expansion in the modern trade company #2. has come close to the leading position. At the same time sales of Heineken Russia have continued growing which makes the premium part of the portfolio heavier. The market premiumization trend had been also confirmed by import brands. MBC and Zavod Trekhsosenskiy have been the most successful among federal market players. The market share of independent regional brewers and Ochakovo have continued falling as they are being squeezed out by the market leaders at their competitive fields.

Ukrainian beer market 2019: companies and brands

In 2019 beer production and market have been still fluctuating about zero point. However, the past season was successful for brewers judging by the sales profitability. The price mix has improved due to rapid general market premiumization, as well as its particular aspect, the growth of import beer sales. By the season end AB InBev Efes improved its positions considerably. It turned out that consumers had not forgot Efes brands that had to leave the market, but started to recover rapidly. Against the stagnating market that meant sales decline of other companies, in the first place Carlsberg Group that most of all beneficiated from Efes exiting the market. PPB turned out to be stable to branding activity of its competitor and Obolon kept the same volumes and at the moment it is the absolute leader of the economy segment. The share growth of independent producers took place thanks to leading craft breweries, that so far do not have a big market weight, but they are rapidly gaining it.

Brewing industry in Kazakhstan 2019

During the first half of 2019, the majority of Kazakh brewers made their contribution into positive dynamics. Yet it was companies of the lower division, not the two transnational leaders that raised their production and sales. The shares of draft beer and aluminum can which is rapidly squeezing glass bottle out of the market, have been growing. The price segmentation has remained stable despite the substantial rise of retail prices and fluctuations of brand market shares, while the borders between segments have become blurred. The main events in the industry have been: the announced revision of the beer excise policy, launch of BeerKhan brand in the strong beer segment, and most important – purchasing assets of Shymkentbeer by Arasan.

India. United Breweries board seeks legal view on Sebi’s ‘wilful defaulter’ rules

Vijay Mallya, currently chairman of UBL, has also legally challenged the application of the new rules and its implication to his board position at UBL.

vijay-mallya-steps-down-as-chairman-of-united-spirits

The independent directors on board of United Breweries (UBL), which has Heinekin and Vijay Mallya as the major shareholders, have sought legal opinion on the rules governing wilful defaulter.

Vijay Mallya, currently chairman of UBL, has also legally challenged the application of the new rules by capital market regulator on wilful defaulter and its implication to his board position at UBL. His contention is that he is a shareholder and promoter of the company.

"We have sought legal opinion to understand the Sebi notification and its implication on UBL and will decide on the course of action at our next board meeting," Kiran Mazumdar Shaw, chair of Biocon and independent board member on United Breweries, said.

Mallya recently resigned from the role of chairman at other companies such as Sanofi and Bayer. The RBI directives restrict a company or a director who has been declared a wilful defaulter from raising debt. Likewise, the new Sebi regulations restrict the company and a director who is a wilful defaulter from accessing the capital markets, except under limited circumstances.

"Neither the RBI directions nor Sebi rules require a director who is declared as a wilful defaulter to step down from a company," said Prem Rajani, managing partner of law firm Rajani Associates.

However, if such a director stands to be disqualified under section 164 of the Companies Act, he cannot be appointed as a director of any other company or be re-appointed as a director of the same company for a period of five years, he added. "The board of directors of the company may call upon such a director to step down from the company to save the company from being a wilful defaulter," Rajani said.

Officials close to Vijay Mallya said the notification is about nominating directors and the rule is not applicable to him as a promoter. Heinekin declined to comment on the subject, while Mallya did not respond to an email.

Relations between Mallya and Heineken are said to be cordial in the absence of any ownership or financial tussle between the two, said people aware of the matter. It's also understood that Mallya's chairmanship will remain unchallenged even if his stake fell.

Heineken now has a 43% in UB compared to Mallya's 32% in 2009, both had 37.5% each. After raising its stake recently to 42.2% for 24 million, Heineken said the move would not change UB's governance structure.

8 Июл. 2016

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