Slovenian Pivovarna Lasko says gets five takeover bids

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By Marja Novak

LJUBLJANA, March 19 (Reuters) - Slovenia's largest brewer, Pivovarna Lasko, received five binding bids in a sale that is expected to be completed by the end of June, Lasko said in a statement late on Thursday.

It did not give the names of the bidders but, according to local media, Dutch brewer Heineken (Other OTC: HEINY - news) and four investment funds have submitted bids.

Heineken told Reuters last week that it was interested in buying Lasko, while local media reported investment funds KKR , Bain Capital, CVC Capital and Mid Europa Partners (Other OTC: PGPHF - news) are also among bidders, citing unofficial sources.

"The received bids will be carefully examined, upon which a decision will be made on how to proceed with further negotiations in the sale process," Lasko said.

Lasko put itself up for sale last year and expects the buyer to invest at least 75 million euros into the business to help cut debt, while acquiring at least one-third of the company.

The buyer would then have to announce a takeover for the whole firm, in line with Slovenian securities legislation that obliges parties acquiring at least one-third of a company to make a buyout offer for the rest of its shares.

Lasko is owned by local banks and companies. Some 51 percent of its owners have signed a deal, according to which they are prepared to sell their stakes.

(Reporting by Marja Novak; Editing by Robin Pomeroy and Alan Crosby)