The shareholders of Lviv independent company Persha Pryvatna Brovarnia (First Private Brewery, PPB), including the European Bank for Reconstruction and Development (EBRD), which indirectly owns a 15 percent stake, will invest $10 million in the company, according to the bank.
PPB said that the bank would be “the main source of share investment.”
“This investment by the EBRD and other existing shareholders creates new opportunities for the development of our company: we will increase working capital and launch a new bottling line,” reads the report, citing the founder and the key shareholder of the company, Andriy Matsola.
The parties did not disclose the expected distribution of share capital after investment.
EBRD Director for Ukraine Sevki Acuner noted that the bank has started cooperation with PPB in 2008, when within the Ukrainian program to improve energy saving the EBRD implemented important measures on energy saving in the company.
Persha Pryvatna Brovarnia was created in 2004. Now the company operates two breweries in Lviv and Radomyshl (Zhytomyr region) with a total capacity of 2 million hectoliters of beer per year.
