<article>Netherlands-based beer-maker <a style="color: #000080;" href="http://www.heineken.com/agegateway?returnurl=%2f" target="_blank">Heineken International BV</a> has signed a joint venture deal with <a style="color: #000080;" href="http://asiabrewery.com/" target="_blank">Asia Brewery Inc</a> for the creation of AB Heineken Philippines Inc.</article>

Netherlands-based beer-maker <a style="color: #000080;" href="http://www.heineken.com/agegateway?returnurl=%2f" target="_blank">Heineken International BV</a> has signed a joint venture deal with <a style="color: #000080;" href="http://asiabrewery.com/" target="_blank">Asia Brewery Inc</a> for the creation of AB Heineken Philippines Inc.
Asia Brewery&#8217;s parent firm <a style="color: #000080;" href="http://www.ltg.com.ph/" target="_blank">LT Group Inc (LTG)</a> announced the agreement on Friday but financial terms remained undisclosed.
Heineken portfolio has more than 250 international, regional, local and specialty beers and ciders. It operates 167 breweries, malteries, cider plants and other production facilities in over 70 countries.
Under the agreement, AB Heineken Philippines will be driving further premiumisation of the brand portfolio.
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Asia Brewery is set to upgrade its two local breweries in Cabuyao and El Salvador so that they can brew Heineken brands.
In the meantime, Asia Brewery will start to distribute Heineken and Tiger brand products in the Philippines.
Heineken Asia Pacific president Frans Eusman said the joint venture with Asia Brewery in the Philippines represents a good business opportunity for the Dutch company.
&#8220;It increases our exposure to another market in the region with strong growth potential,&#8221; Eusman said.
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Meanwhile, LTG chief executive officer Lucio Tan said  Asia Brewery&#8217;s infrastructure and marketing experience will do well in achieving the joint venture&#8217;s goals.
&#8220;Our local knowledge and distribution network combined with the brewing and marketing expertise of Heineken will be able to deliver quality beer brands and an exceptional experience for our consumers,&#8221; Tan said.
AB Heineken Philippines will implement Heineken&#8217;s global policies and approaches in relation to supplier code, local sourcing, water management, employee healthcare and human rights, community investment and responsible alcohol marketing.
The transaction is subject to customary closing conditions and operations are expected to commence in the fourth quarter of 2016.
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Asia Brewery, Heineken set up new beer JV firm in Philippines

Asia Brewery, Heineken set up new beer JV firm in Philippines

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Asia Brewery, Heineken set up new beer JV firm in Philippines

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