Asia Pacific Breweries has completed deals to acquire Heineken's controlling stakes in Multi Bintang of Indonesia and Grand Brasseries de Nouvelle Caledonie.

The deals were part of a series of agreements between Asia Pacific Breweries (APB) and Heineken, following the Netherlands-based brewer's tie-up with United Breweries in India late last year.

APB is jointly owned by Heineken and Fraser & Neave.

After Heineken secured a 37.5% stake in United Breweries, it agreed to acquire all of APB's India assets, including APB Aurangabad and APB Pearl, for EUR25m (US$37m).

In return, APB agreed to acquire Heineken's 68.5% interest in Indonesian-based Multi Bintang Indonesia and Heineken's 87.3% interest in Grande Brasserie de Nouvelle Caledonie in New Caledonia for undisclosed fees.

APB CEO Rolan Pirmez said today (10 February) that completion of the deals marks a milestone for APB.

"Not only have we expanded our regional footprint to Indonesia and New Caledonia, we are now able to participate in the two profitable beer markets via market leaders," he said.

Both companies are expected to immediately enhance APB earnings, said the brewer, which added that it will launch a tender offer to acquire all remaining shares in Multi Bintang. Details of the offer will be announced soon, it said.

Meanwhile, APB reaffirmed that it is in talks with United Breweries and Heineken to ensure that its Tiger brand will continue to be sold in India.

United Breweries is India's largest brewer with a volume market share of close to 50%.