ISTANBUL, July 19 – Leading Turkish beverage group Efes Pilsen said on Wednesday it was in talks with Invesco Asset Management on forming a joint venture with a Ukrainian brewery substantially owned by the London-based group.
Efes, Turkey's largest beermaker, would hold a majority stake in the venture at the OSJC Chernomor Brewery in Odessa and manage the new company, Efes said in a statement.
The statement did not give a value for the deal.
It said two investment funds managed by Invesco and Fulcrum Asset Management had a substantial majority stake in the brewery.
The OJSC Chernomor Brewery has a capacity of 100 million liters annually and also sells soft drinks and mineral water, Efes said. The joint venture would bring new machinery and equipment to the plant.
Efes operates 12 beer-producing factories in four countries and sells its products in 15 countries. It also conducts Coca-Cola operations in five former Soviet states.
