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UPDATE 1-Heineken bids for 2 Ethiopian breweries

Published 03/30/2011, 05:21 AM
Updated 03/30/2011, 05:32 AM
HEIN
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* Bids total of $163 million as it continues African expansion

* Follows recent deals in Nigeria, Rwanda and S.Africa

(Adds quotes, background)

AMSTERDAM, March 30 (Reuters) - Heineken NV, the world's third-largest brewer, said it had bid a total of $163 million for two breweries in Ethiopia as it expands in the fast-growing African market.

Heineken has clinched deals in Nigeria, Rwanda and South Africa in recent months, eyeing rising incomes in Africa's emerging markets.

"With its large, growing population, political stability, improving economy and rapidly growing beer market, Ethiopia is a promising, long-term growth market for Heineken in Africa," Heineken said in a statement emailed to ANP-Reuters.

The giant brewer said it had taken part in the public auction for the Ethiopian state-owned Bedele and Harar breweries, bidding $85 million for Bedele and $78 million for the Harar brewery.

"Our bids were the highest and we look forward to engaging formally with the Ethiopian government once it has completed its review of the detailed bid documentation," which could take up to four months, it added.

Heineken announced it had acquired controlling interests in five breweries in Nigeria -- where it is the market leader -- in January. (Reporting by Sara Webb; Editing by Jon Loades-Carter)

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