Mythos Brewery/Olympic Brewery €150 million merger

Overview:

• Olympic Brewery and Mythos Brewery, the 2nd and the 3rd largest players of the Greek beer market, have agreed a merger deal with a value of approximately €150 million.
• Mythos Brewery is a wholly-owned subsidiary of Carlsberg.
• The deal would create the second largest beer producer in Greece with an estimated market share of 29%. 
• The transaction included aspects of a deferred price mechanism to Olympic Brewery's selling shareholders.
• Carlsberg will take exclusive control of the merged company, which owns 51% of its share capital of the new company, whereas Olympic Brewery holds the remaining 49%.
• The shares of Olympic Brewery's minority shareholders will be bought out by Carlsberg either based on a right of pre-emptive sale of the minority shares (put option), or based on a right of pre-emptive purchase (call option) held by Carlsberg.

Wai Yee Tsang - Journalist