OOO Vladpivo Ltd

completed

OJSC Pivoindustria Primoriva (PIP or the company) is the only brewery located in the Russian Far East capital city of Vladivostok. Its nearest competitors are located 750 Kilometers away in Khabarovsk. The project, which will be implemented in two phases, involves a $58 million investment program for the following:- acquisition of PIP by the Sponsors; - upgrading of PIP’s facilities and expand its current production capacity to 1.5 million Hectoliters (“HL”) p.a—from the present 720,000 HL—by 2008; - settlement of $14 million in old debt; and - provision of the necessary working capital. The project also includes plans to improve product quality, revive existing brands and develop new brands for PIP.The project will enable PIP to become the leading brewer in Vladivostok city and the surrounding Primorye krai markets, serving a population of 2.2 million people.