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Heineken buys Algerian brewer Tango

Mon Jan 14, 2008 11:46am EST

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AMSTERDAM, Jan 14 (Reuters) - Dutch brewer Heineken NV (HEIN.AS) said on Monday it has acquired Algeria's Tango Brewery for an undisclosed sum, and that the deal will increase earnings from 2008.

"The transaction has been funded from existing cash resources and will be earnings enhancing in 2008 and value enhancing in 2012," Heineken said in a statement.

Tango Brewery has 350 staff and operates a brewing facility near Algiers, Heineken said.

"The brand portfolio consists of the leading national mainstream beer brand Tango, and two brands in the economy segment, Samba and Fiesta," Heineken said, adding that the Algerian beer market was expected to grow at around 10 percent per year, based on a total volume of 1.1 million hectolitres in 2007.

(Reporting by Reed Stevenson; Editing by Paul Bolding)

((reed.stevenson@reuters.com; +31 20 504 5002; Reuters Messaging: reed.stevenson.reuters.com@reuters.net)) Keywords: TANGO/

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