Drinks group Diageo and Dutch brewer Heineken said today they had agreed to form two new joint ventures in South Africa.
The two companies said had teamed up with Namibia Breweries Ltd (NBL) to form DHN Drinks.
This will combine their beer, cider and ready-to-drink businesses in South Africa and build on the three firms' cost-sharing venture in the country.
Diageo and Heineken will each own 42.25 per cent of DHN Drinks, and NBL will own 15.5 per cent. Each party will share in the profits of DHN Drinks in proportion to their shareholding.
Diageo and Heineken said they had also agreed to form a second joint venture in South Africa to construct and operate a brewery in Gauteng province.
The brewery will be 75 per cent owned by Heineken, with Diageo holding a 25 per cent stake.
