Brewer gains from India, Asia sales
Source: Agencies |
December 8, 2009, Tuesday
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Print Edition
Print Edition
HEINEKEN NV, Europe's largest brewer, said yesterday it would book a 145 million euro (US$216 million) gain after moves to combine multiple operations in India and in the South Asian Pacific.
Singapore-based Asian Pacific Breweries, in which Heineken owns a controlling 42.5 percent stake, will sell its Indian operations to India's largest brewer, United Breweries Limited - the maker of Kingfisher which Heineken jointly controls with Indian tycoon Vijay Mallya.
That deal must receive regulatory approval.
Heineken and UBL have also agreed on terms of brewing and distributing Heineken-branded beer in India.
Separately, Heineken said it was to sell businesses it controls in Indonesia and New Caledonia to Asian Pacific Breweries.
Singapore-based Asian Pacific Breweries, in which Heineken owns a controlling 42.5 percent stake, will sell its Indian operations to India's largest brewer, United Breweries Limited - the maker of Kingfisher which Heineken jointly controls with Indian tycoon Vijay Mallya.
That deal must receive regulatory approval.
Heineken and UBL have also agreed on terms of brewing and distributing Heineken-branded beer in India.
Separately, Heineken said it was to sell businesses it controls in Indonesia and New Caledonia to Asian Pacific Breweries.
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