Spectator on facebook

Spectator on facebook

CORPORATE BRIEFS

Topvar brewery shareholders reject SAB investment bid

The board of directors as well as the shareholders' meeting of Topvar brewery, based in Topoľčany, rejected a foreign capital investment bid on November 11. The top management and the company shareholders agreed that they would not approve a sale of a 15% stake controlled by the municipality of Topoľčany to a foreign investor.

Topvar production director and vice-chairman of the board, Ferdinand Neuwirth, said that the municipal authorities in Topolcany had accepted an offer from South African Breweries (SAB) to buy 215 shares for 450,000 Sk per share, subject to the approval of the other shareholders.

"Topvar senior representatives negotiated with SAB representatives and it emerged from the talks that SAB would want to increase its stake in Topvar in the future. However, Topvar is a joint-stock company established by the brewery's employees, and we have accepted a commitment that we would not sell it," Neuwirth stressed. He said that Topvar is able to cover its operating costs and investments from its own sources or loans and that they need no capital entry.

Topvar is the largest of twelve breweries in Slovakia to remain in exclusively Slovak hands, and is the third largest brewery in the country. International companies control the two biggest breweries in Slovakia (Šariš and Zlatý Bažant). The majority owner in Šariš brewery is SAB, one of the largest brewers in the world, while the Dutch firm Heineken controls Zlatý Bažant.

Topvar brewery reported sales of 321 million Sk in the first half of 1998, up 25% over the same period of 1997. Gross profit swelled by 14% to 11.1 million Sk. Besides beer and malt, the company also produces soft drinks.

Top stories

Soldier detained for theft in the ammunition depot

The theft in the ammunition depot was not used for arming extremists or terrorism.

Ammunition, illustrative stock photo

Slovak tennis player knocks out Sharapova Video

Magdaléna Rybáriková improves her position in the WTA ranking.

Magdaléna Rybáriková

Governmental campaign should bring Slovaks home from the UK

The Slovak cabinet plans to persuade its expats living and working in the UK with at least a bachelor degree to return home: a campaign offering specific jobs should help.

Young researchers, IT experts and medical staffers are needed in Slovakia, illustrative stock photo.

EU lawyers claiming the Russian annexation of Crimea as legal is a hoax

One lawyer does not mean all EU lawyers; immigrants attacking a shepherd dog and HAARP causing hurricanes in the US are hoaxes, too.

Hoax on immigrants attackign two German shepdherds and ebing bitten yb them