Lion Nathan has confirmed details of its joint venture with Heineken in Australia. The Australian brewer said earlier today that the new joint venture will focus on producing and selling Heineken's premium beer brands in the country. Financial figures regarding the move were not disclosed.

The current managing director of Heineken's Australian unit, Hans-Erik Tuijt, will head the joint venture, Lion Nathan said.

The joint venture will enable the two breweries to increase significantly their activities in Australia, the companies said.

Heineken controls Lion's main rival in New Zealand, DB Group. DB is 76%-owned by Singapore-based Asia Pacific Breweries (APB) Group, which in turns in turn is 42.5%-owned by Dutch brewer Heineken NV and 38% by local soft drinks group Fraser & Neave.