New Zealand: DB Breweries enters into a joint venture to open a microbrewery

New Zealand’s DB Breweries Limited, a wholly owned subsidiary of the Singapore-based Asia Pacific Breweries Ltd, has entered into a joint venture with Three Jays Ltd form a new company, Trinity Hospitality Company Limited, which will manage and operate a bar and microbrewery on-premise outlet in Wellington, the parent company announced on July, 2.

DB will inject approximately NZ$387,000 in cash into Trinity for a 60 per cent equity stake, while Three Jays will inject approximately NZ$258,000 in cash into Trinity for the balance 40 per cent stake.

The investments are not expected to have any material impact on the net tangible assets per share or earnings per share of Asia Pacific Breweries for the current financial year.

None of the Directors or controlling shareholders of the Singapore-based brewer has any interest, direct or indirect in the investments, the company said.

03 July, 2009