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Russia's Baltika buys Azerbaijan's largest brewery

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BAKU, May 15 (RIA Novosti) - Russia's largest beer producer Baltika has bought Azerbaijan's Baku Castel brewery, a subsidiary of France's Castel, an Azerbaijani news agency quoted the head of Baltika as saying on Thursday.

Baltika plans to spend $20 million on re-equipping the Baku brewery with a view to increasing annual beer output by 50%, Anton Artemyev said. The size of the deal has not been announced.

The Baku Castel plant will produce all brands of Baltika beers.

Baltika has 10 subsidiaries in nine Russian regions. Baltic Beverages Holding (BBH) controls 85.6% of its authorized capital. Baltika beer is marketed in 38 countries.

Baku Castel was established in 2000 by France's B.I.Í. Eastern, which completely modernized the former Khyrdalan beer plant.

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