Colin Ng & Partners LLP acted for Alliance Brewery Company Limited (“ABCL“), in its joint venture with Asia Pacific Breweries Limited (“APBL“) – a subsidiary of Heineken N.V. (“Heineken“), to build and operate a brewery in Myanmar. The joint venture company is named APB Alliance Brewery Company Limited (“JVCO“).
Lawyers involved in the deal were CNP Partner Lisa Theng, Associate Ken Chia and Foreign Associate Ana Limgenco.
The new JVCO, has been approved by the Myanmar Investment Commission (MIC). The JVCO will build a new greenfield brewery in Myanmar. Under the terms of the joint venture agreement, HEINEKEN, through its subsidiary Asia Pacific Breweries Limited, will have a controlling 57% stake in the new JVCO and be responsible for overall management, providing brewing and technical expertise, 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 JVCO plans to invest US$60 million in the brewery, create more than 400 jobs and brew leading brands.
Aung Moe Kyaw, Chairman of ABCL said: “We are excited by the prospect of working with a world class organisation such as HEINEKEN. We believe our knowledge and experience of the local market combined with the brewing and marketing know-how of HEINEKEN will deliver excellent products as well as attractive employment opportunities for the people of Myanmar.“