Efes picks CDR for LSE flotation bid

Efes Breweries International, the Turkish firm that dominates beer sales in growth market Russia, has hired Citigate Dewe Rogerson (CDR) to handle its debut on the London Stock Exchange.

The firm, which is 85 per cent owned by Turkish brewer Anadolu Efes, hired CDR following a three-way pitch to handle the float which financial media have said is expected to value the firm at between £500m and £900m.

CDR director Jai Singh will lead an agency team of up to five, reporting to EBI chief executive Muhtar Kent. ‘Our brief is to raise interest from institutional investors in the UK through the wire services, broadsheets and financial press. It is to raise its profile through targeting selected media and to make sure people understand the brand and the leading position it has,’ said Kent.

EBI, which is registered in Amsterdam and has nine regional breweries, of which three are in Russia, recently became the market leader in the Moscow region with its Efes Pilsener premium brand, and owns the Stary Melnik brand. Russians generate 60 per cent of Efes’s turnover.

Singh said the aim was to rouse institutional investor interest internationally via the UK media, but added that the agency might also engage European media.

The initial public offering is being done in London as it provides the ‘deepest access’ to capital, said Singh.

He added that the agency would promote the fact that the company has strong governance that complies with Dutch standards.

EBI’s rivals in the county include Heineken, Carlsberg and Interbrew.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.