Netherlands’ Heineken will acquire a majority stake Lebanon’s Almaza Brewery. The European company has held a 10 percent stake in the firm since 1960 and will now increase its holdings to 79 percent.
Heineken will attain Almaza’s brewing equipment as well as its distribution network, however the land and factory buildings are not included in the deal. Founded in 1933 in Bauchrieh by Lebanese shareholders, Almaza is the only brewery in Lebanon and holds a 61.5 percent local market share.
Last month Heineken obtained the approval of the Egyptian Capital Market Authority to make a public offer for up to 100 percent of the issued shares of Al-Ahram Beverages Company (ABC) in Egypt. The offer is conditional upon Heineken acquiring at least 76 percent of the shares. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
