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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.

UK court says SABMiller shareholders can be split into two classes

SABMiller shareholders can be treated as two separate groups when they vote on the brewer's 79 billion pound ($103 billion) takeover by Anheuser Busch InBev, a court in London ruled on Tuesday, granting a request from SAB aimed at making the vote as fair as possible.

PANews BT_P-c64af020-3fd7-4ef6-ab45-9a07381db4bb_I1

The marriage of the world's largest beer makers was agreed last year with an offer of 44 pounds per share in cash for general shareholders and a discounted cash-and-stock offer aimed at the largest two - Altria Group and Bevco - to help them avoid large tax bills.

The agreement grew contentious this summer after a fall in the British currency increased the value of the cash-and-stock offer above that of the cash offer. AB InBev sweetened its offer in July after several shareholders, including activist hedge funds, pressured SABMiller to seek a new deal.

Both brewers' boards have recommended AB InBev's "final" offer, and SAB requested that Altria and Bevco -- which have already signalled their support -- be treated as a separate class.

Justice Richard Snowden said on Tuesday it was an understandable request since it lowered the risk of delays or challenges from dissenting shareholders who might have challenged the vote as unfair given that Altria and Bevco has agreed to a different offer arrangement.

With the judge's ruling, the deal will require 75 percent approval by SAB shareholders, excluding Altria and Bevco, which together control about 40 percent of the shares.

"I have jurisdiction to order a meeting of public shareholders to be summoned that does not include Altria and BevCo," Snowden told the court.

Altria and Bevco, a vehicle of Colombia's Santo Domingo family, will therefore give their support separately, SABMiller and AB InBev said.

Prominent investor Aberdeen Asset Management had voiced opposition to the revised offer, saying it still undervalued the brewer of beers including Castle Lager, which has a strong presence in fast-growing markets of Latin America and Africa.

SAB also said more details about the implementation of the deal were expected to be published along with transaction documents on Aug. 26.

There are planned meetings of shareholders of each company on Sept. 28. If approved, the deal is expected to close on Oct. 10.

The new entity will be almost wholly controlled by executives from AB InBev, maker of beers including Budweiser and Stella Artois.

SAB's shares were down marginally at 4,375 pence at 1159 GMT while AB InBev's stock was up 1 percent at 112.10 euros. ($1 = 0.7663 pounds) (Reporting by Martinne Geller in London; additional reporting by Noor Zainab Hussain and Esha Vaish in Bengaluru; editing by Keith Weir and Susan Thomas)

23 Авг. 2016

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