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| Equity Market News | 06th February 2012 | |
Equity Org Headlines:Essar Energy adds 3 percent in mostly lower London energy sectorAntofagasta leads miners higher in London Hunting plc leads energy sector lower Sports Direct International leads London retailers higher Pace plc drops 40 percent on profits warning Royal Bank of Scotland leads London banks lower Royal Bank of Scotland leads banks, FTSE 100 higher in London Lloyds Banking Group drops 8 percent on first-quarter loss Lloyds shares down on PPI claims Aquarius Platinum adds 7 percent amid mostly lower mining sector |
06/05/05Heineken acquires Russian beer makerHeineken, the Dutch brewer, has announced that it will buy Patra, a Russian brewer. Patra is based in Yekaterinburg, Russia’s third largest city. Russia is the world’s fifth-largest beer market. At the end of the Soviet era, when Mikhail Gorbachev was the Soviet leader, beer was promoted as a healthier alternative to vodka, considered to be Russia’s national drink. The acquisition increases Heineken’s share of the Russian market to 8.3 percent, up from 7.5 percent. Heineken will buy Petra for an undisclosed amount of cash. The purchase comes at a time when Heineken has under performed the European beverages sector by about 30 percent for the past three years and continues the company’s practice of acquiring small regional breweries in growing markets. In 2004, Petra had net profits of $1.2 million on a turnover of $27 million. |
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