Heineken has followed up its expansion into Egypt and the Lebanon with a $56m offer for Panamanian brewery group, Cervecerias Baru-Panama.

Baru is 52% owned by Coca-Cola Panama with the other 48% traded on the Panamanian stock exchange, Heineken said.

The Dutch brewer and its Latin American partner, the Florida Ice and Farm Company, have joined with Panamco to form CA Beverages, which has taken direct control of CCP and indirect control of Baru.

Baru has a 25% market share in Panama.