Lion Nathan in joint venture talks with Heineken

SYDNEY - Australia's second biggest brewer Lion Nathan Ltd said today it was in talks with Dutch-listed beer giant Heineken NV about setting up a Australian joint venture to make and distribute premium beer.

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

Lion in New Zealand distributes Stella Artois, a rival beer to Heineken.

Lion Nathan shares added 1.3 per cent to A$6.31 in a softer overall market in mid-afternoon trade.

- NZPA