Heineken joins Philippine brewery to grow in Asia

São Paulo-Heineken International signed on Friday (26) a contract to form a joint venture with Asia Brewery Incorporated. The financial terms of the partnership were not disclosed.
The manufacturer of drinks is a giant in the industry in the Philippines and belongs to the IT Group.
The deal will give rise to AB Heineken Philippines. Under the agreement, Heineken will be responsible for making "more premium" brands in the portfolio of the new company.
The two factories that Asia Brewery has in the Philippines and El Salvador will be enhanced to produce Heineken brands.
While the adaptation is ready, she will distribute the Heineken and Tiger beer in the Philippines.
According to statement, the joint venture will adopt the Heineken global policies in relation to suppliers, supply, water management, health care, human rights officials and responsible consumption of alcohol.
"This partnership represents a good business opportunity for Heineken. It increases our exposure to another market in a region with strong growth potential, "he said in note Frans Eusman, President of the new company formed.
The transaction pending regulatory approvals. The processes should be initiated in the fourth quarter.