A takeover battle among foreign beer companies has changed the ownership of Dominion Breweries, New Zealand's second-biggest brewer.
The maker of Tui beer, which is marketed as an iconic New Zealand brand, is owned by Asia Pacific Breweries, which is being shaken up by a multi-billion-dollar deal.
The dutch beer maker Heineken is spending $S5.1 billion ($NZ5 billion) to buy 40 percent of Asia Pacific Breweries from Singapore-based Fraser and Neave, taking its stake to 82 percent. It will attempt to move to full control.
DB, which competes against Lion Breweries, has declined to comment on the ownership shakeup, which was first signalled in July. Lion Breweries is owned by Japan's Kirin Holdings, which was seen as a rival for Asia Pacific Breweries.
Heineken is focused on building its share of beer markets in Asia because of lacklustre sales in Europe.
DB already brews Heineken under licence along with Amstel and Tiger. Its biggest domestic brands are Tui and Export Gold.
source: newshub archive