SPO Of Russian Alcohol Producer "Synergy"

The placement price of shares of vodka producer Synergy is defined in the $ 36 - at the lower end of the range, a source close to the placement reported.
The range of secondary offering (SPO) is $ 36-40.
Synergy placed 15 percent of existing shares to repurchase securities of the shareholders of the new issue. Total for placement are offered 2.9 million of common shares, selling shareholder is Sword Enterprises Ltd.
The source said that the company proposed to place the entire volume. This corresponds to the proceeds from the SPO to $ 104.4 million.
Organizers of the SPO are VTB Capital and Renaissance Capital.
The proceeds from secondary public offering of funds (excluding the cost of accommodation) will be used by the company to reduce debt, as well as on potential transactions in mergers and acquisitions, the exit direction in the price segment, where products are not yet represented.
Synergy is the second largest producer of alcoholic beverages in Russia by production volume and occupies 9 percent of the country's legal market with shipments of 10.131 million dal (by Rosstat's data in 2009).

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