JP Morgan has worked on its first deal for BBAG, the Austrian drinks company due to be bought by Dutch rival Heineken.

BBAG's management started looking for a strategic partner in January, and has now secured a deal to be acquired by Heineken for €1.9bn ($2.1bn). Although JP Morgan started working with BBAG about two and a half years ago to examine its strategic options, the Heineken deal is the first one to materialise.