Heineken inks beer alliance with UB Group

United Breweries Holdings (UBL) has forged an alliance with Heineken to distribute the Heineken brand in India. The partnership in India is expected to drive growth in one of the world's fastest growing beer markets. As part of the agreement, Heineken will acquire Asia Pacific Breweries (APB) India -- Asia Pacific Breweries (Aurangabad) and Asia Pacific Breweries-Pearl -- for Euro 25 million (Rs 174 crore). Following completion of this transaction in the first quarter of 2010, Heineken intends to transfer these businesses into UBL during 2010. APB is a joint venture partnership between Heineken and Fraser and Neave.