SINGAPORE, May 2 (AFP) – Singapore-listed Asia Pacific Breweries, which makes Tiger beer, said Tuesday it has acquired 76 percent of Indian brewer Aurangabad Breweries for 18 million US dollars. The company is a joint venture between the Fraser and Neave Group of companies and Heineken of Holland. The deal includes a provision for Asia Pacific Breweries to full acquire the Indian beer maker by end 2008, the company said in a statement.
Aurangabad Breweries owns two plants in the states of Maharashtra and Goa with a combined annual production capacity of about 250,000 hectolitres.
It will be Asia Pacific Breweries’ second investment in South Asia after its entry into Sri Lanka in September last year when it bought a 60 percent stake in Asia Pacific Brewery (Lanka) Ltd.
Asia Pacific Breweries said last year it plans to build a brewery in Mongolia.
“In the last 16 years, our focus was mainly on Southeast Asia, Indochina, Australasia and China,” Asia Pacific Breweries chief executive Koh Poh Tiong said.
“As our breweries in these markets have shown good growth, it is timely that we look beyond our current markets and set our sights on South Asia for our next wave of regionalisati