Joint venture Serbia and Kazakhstan

Heineken announces the establishment of a joint venture with Efes Breweries International (EBI) in order to invest in the Uzbek beer market through the acquisition of breweries. Heineken and EBI hold 40 per cent and 60 per cent respectively of the shares in the joint venture, respectively, with EBI responsible for operational management.

In addition, Heineken and EBI announce they intend to combine their operations in the Kazakh and Serbian beer markets. In Kazakhstan, EBI is the second largest brewer with a 25 per cent market share. The company operates two breweries with a total annual capacity of 2.1 million hectolitres. Heineken is the fifth largest brewer in the market with a 5 per cent market share and an annual capacity of 400,000 hectolitres. Following the completion of the proposed transaction (in October 2008), Heineken and EBI hold 72 per cent and 28 per cent respectively of the combined Kazakh business.

In Serbia, EBI is the third largest brewer in the market with a 10 per cent market share. The company operates two breweries with a total annual capacity of 1.4 million hectolitres.

After Heineken’s acquisition of the Rodic brewery in February 2008, Heineken is the fourth largest brewer in the market with a 7 per cent market share and an annual capacity of 1.5 million hectolitres. Following the completion of the proposed transaction (which occurred in August 2008), Heineken and EBI hold 72 per cent and 28 per cent respectively of the combined Serbian business.