Heineken partners with Efes Breweries in Uzbekistan, Serbia and
Kazakhstan
Amsterdam, 28 January 2008 - Heineken N.V. announced today that it
has established a joint venture with Efes Breweries International
N.V. ("EBI") in order to invest in the Uzbek beer market through the
acquisition of breweries.
Under the terms of the agreement, Heineken and EBI will hold 40% and
60% of the shares in the joint venture, respectively, with EBI
responsible for operational management.
Uzbekistan has an estimated population of 27 million, a beer market
showing double-digit growth and current estimated per capita beer
consumption of 11 litres.
In addition, Heineken and EBI have also announced that they intend to
combine their operations in the Kazakh and Serbian beer markets. Both
of these transactions will be subject to the customary regulatory
approvals and are expected to be completed in the first half of 2008.
In Kazakhstan, EBI is the second largest brewer with a 25% market
share. The company operates two breweries with a total annual
capacity of 2.1 million hectolitres. Heineken is the fifth largest
brewer in the market with a 5% market share and an annual capacity of
400,000 hectolitres. Following the completion of the proposed
transaction, Heineken and EBI would hold 28% and 72% respectively of
the combined Kazakh business.
In Serbia, EBI is the third largest brewer in the market with 10%
market share. The company operates two breweries with a total annual
capacity of 1.4 million hectolitres On December 5th 2007, Heineken
announced that it intends to acquire the Rodic Brewery in Serbia, the
country's fourth largest brewer with a 7% market share and an annual
capacity of 1.5 million hectolitres. Following the completion of the
proposed transaction with EBI, Heineken and EBI would hold 72% and
28% respectively of the combined Serbian business.
Nico Nusmeier, Regional President Central and Eastern Europe,
Heineken N.V., commented: "We are delighted to join forces with such
a strong business partner as EBI. With the combined resources, skills
and brands of our two businesses, we believe that we will be able to
drive stronger, faster growth than would be possible separately.
From a strategic Heineken perspective, this deal also leaves us well
positioned to achieve leadership positions in three fast growing
Central and Eastern European beer markets."
"We are very excited to access the dynamic Uzbek market with Heineken
as a strong ally. We believe this structure will enable us to best
capitalize on the future growth potential of the Uzbek market", said
Mr. Alejandro Jimenez, Chairman of the Board of Management and Chief
Executive Officer of EBI. Mr. Jimenez also added: "We are also happy
to set-up a structure whereby we will command a much stronger
competitive position in Kazakhstan and Serbia."
EBI, listed on the London Stock Exchange (IOB: EBID), operates in
Russia, Kazakhstan, Moldova and Serbia, where the company has ten
breweries with a total annual brewing capacity of 24.6 million
hectolitres as well as four malteries with 139,000 tons annual
capacity. EBI is a majority owned subsidiary of Anadolu Efes
Biracilik ve Malt Sanayii A.S.("Anadolu Efes"), the leading beverage
company in Turkey. Anadolu Efes, together with its direct and
indirect subsidiaries and affiliates, produces, markets and sells
beer, malt, soft drinks and bottled water across Turkey, Southeast
Europe, Russia, the CIS countries and the Middle East.
Editorial information:
Heineken N.V. is the most international brewer in the world. The
Heineken brand is sold in almost every country in the world and the
company owns over 115 breweries in more than 65 countries. With a
Group beer volume of 132 million hectolitres Heineken ranks fourth in
the world beer market by volume. Heineken strives for an excellent
sustainable financial performance through marketing a portfolio of
strong local and international brands with the emphasis on the
Heineken brand, through a carefully selected combination of broad and
segment leadership positions and through a continuous focus on cost
control. In 2006, revenues amounted to EUR 12 billion and net profit
before exceptional items and amortisation of brands amounted to EUR
930 million. Heineken employs over 57,500 people. Heineken N.V. and
Heineken Holding N.V. shares are listed on the Amsterdam stock
exchange. Prices for the ordinary shares may be accessed on Bloomberg
under the symbols HEIA NA and HEIO NA and on the Reuter Equities 2000
Service under HEIN.AS and HEIO.AS.
Additional information is available on Heineken's home page:
http//www.heinekeninternational.com.
Press enquiries
Véronique Schyns
Tel: +31 (0)20 52 39 355
veronique.schyns@heineken.com
Investor and analyst enquiries
Jan van de Merbel
Tel: +31 (0)20 52 39 590
investors@heineken.com
