Heineken is set to up its exposure in Serbia

Heineken is set to up its exposure in Serbia

Heineken and Efes have agreed to unwind their four year-old partnerships in Kazakhstan and Serbia following a “strategic review”. 

The Dutch brewer will sell its 28% stake in Efes Kazakhstan to Efes Breweries International (EBI), a subsidiary of Anadolu Efes, it was announced late last month. Conversely, in Serbia, Heineken will take full control of Central Europe Beverages – a JV with EBI – by acquiring the Turkish brewer's 28% stake. 

Central Europe Beverages was established by the two groups in August 2008

The transactions, which are expected to complete by May, will result in EBI paying Heineken a total of US$161m. 

Heineken said in a statement: "Following a strategic review the decision has been taken to unwind the partnerships."

In Serbia, Heineken’s brand portfolio includes Heineken, Amstel and local brands PilsPlus, Zajecarsko, MB Pils and Master. In Kazakhstan, the brewer said the beer market offers “attractive growth opportunities” and it will continue to export its flagship brand to the country.