Heineken To Sign Joint Venture Agreement in Myanmar

Dutch brewer Heineken NV (HEIA.AE) said Monday it has signed a joint venture agreement with privately-owned Alliance Brewery Company Ltd to brew and sell Heineken beers in Myanmar.

Heineken, through its subsidiary Asia Pacific Breweries Limited, will have a controlling 57% stake in the new joint venture company, called APB Alliance Brewery Company Limited, and be responsible for overall management, providing brewing and technical expertise, procurement of ingredients and the licensing of brands, the company said.

- APB Alliance Brewery Company Limited will build a new greenfield brewery in the country which is expected to be operational by the end of 2014.

- The joint venture company plans to invest $60 million in the brewery and create more than 400 jobs.

Source: Fox Business

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