COPENHAGEN, Denmark (AP) — Danish brewer Carlsberg A/S has formed a joint venture with state-owned Hanoi Beer & Beverage Corp. to build a brewery in southern Vietnam.
Carlsberg and the Vietnamese brewer, Habeco, each will hold 29 percent of the venture and other investors will hold the rest, Carlsberg said Tuesday in a statement.
Financial terms of the deal were not disclosed.
Earlier this year, the Vietnamese Ministry of Industry approved Habeco's choice of Carlsberg as a strategic foreign investor with the upcoming privatization of Habeco.
The joint venture will have brands including Carlsberg and Habeco's Hanoi Beer, a leading beer brand in northern Vietnam.
The name of the joint venture will be Hanoi Vung Tau Joint Stock Co.
Carlsberg shares gained 0.6 percent to 711 kroner (US$132.37) in trading Tuesday in Copenhagen.