Heineken NV Signs Joint Venture Agreement in Myanmar

Monday, 13 May 2013 03:09am EDT 

Heineken NV announced that it has entered into a local joint venture agreement with privately-owned Alliance Brewery Company Ltd (ABC) to brew and sell Heineken beers in Myanmar. ABC is majority-owned by Aung Moe Kyaw, a local entrepreneur. The new joint venture company, APB Alliance Brewery Company Limited, which will build a new greenfield brewery in the country, has been approved by the Myanmar Investment Committee (MIC). Under the terms of the agreement, Heineken NV, through its subsidiary Asia Pacific Breweries Limited, will have a controlling 57% stake in the new joint venture company and be responsible for overall management, providing brewing and technical knowledge, procurement of ingredients and the licensing of brands. The brewery will be located near the country's capital Yangon and is expected to be operational by the end of 2014. The joint venture company plans to invest USD 60 million in the brewery, create more than 400 jobs and brew a number of brands, including Heineken. 

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21 Nov 2014