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News
SABMiller JV enters into $47m deal in China
SABMiller JV China Resources Snow Breweries (CR Snow) has signed a $47m deal with Asahi Breweries Itochu to buy the remainder stakes of 55% in Hangzhou Xihu Breweries Asahi (Hangzhou Xihu Beer) and 25% in Xihu Breweries Asahi Co (Huzhou Brewery). As per the transaction, both the companies will become wholly-owned subsidiaries of CR Snow. In November 2010, the JV, in which China Resources Enterprise (CRE) is also a partner, has acquired 45% equity interest in Hangzhou Xihu Beer, which currently owns a 75% interest in Huzhou Brewery. Located in the north of Zhejiang province, Hangzhou Xihu Beer and Huzhou Brewery have a combined production capacity of 5 million hectolitres per annum.
Link: http://beer.drinks-business-review.com/news/sabmiller-jv-enters-into-47m-deal-in-china-030811
written on 04.08.2011 um 06:23.
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