Gandalovic: Budvar could be transformed into joint-stock company

The last state-owned brewery Budvar could be transformed into a joint-stock company by the end of the year, the Minister for Agriculture Petr Gandalovic told journalists on Friday. The change should be the first step towards privatising the brewery. Minister Gandalovic said that he was convinced such a step was necessary in order to ensure Budvar's further expansion and development. In its current legal form as a state enterprise, the brewery cannot accept injections of foreign capital or pay out dividends. The minister warned, however, that these changes could be hampered by ongoing lawsuits concerning the Budvar brand. Budvar has been involved in a number of trademark disputes with the American Anheuser-Busch brewery all over the world. Anheuser-Busch owns the Budweiser brand, a name Budvar also uses for some of its products.

Author: Coilin O'Connor