Heineken, Diageo agree drinks JV in South Africa
LONDON (Reuters) - Drinks groups Diageo (DGE.L: Quote, Profile, Research, Stock Buzz), Heineken (HEIN.AS: Quote, Profile, Research, Stock Buzz) and Namibia Breweries Ltd (NBL) said on Friday they had agreed to form a new joint venture in South Africa.
The three firms said the venture, to be called DHN Drinks, was for their combined beer, cider and ready-to-drink (RTD) businesses in South Africa and would build on their current cost-sharing venture in the country.
British drinks group Diageo and Dutch brewer Heineken will each own 42.25 percent of DHN Drinks and NBL will own 15.5 percent. Each party will share in the profits of DHN Drinks in proportion to their shareholding.
(Reporting by Mark Potter, Editing by Dan Lalor)
© Thomson Reuters 2008 All rights reserved
Help us advance this story. Provide relevant links or share your insights using our comment box. Please be considerate and help us by reporting any abuse you find. Reuters will delete comments that don't meet community standards.
Have a correction to this article? Email the editors
Campaign trail
Japan, Asian shares soar