CHINA/SINGAPORE: Asia Pacific Breweries flushes out GDH bid for Kingway Brewery stake
GDH will buy APB's stake in Kingway Brewery
Asia Pacific Breweries has confirmed further details of the proposed sale of its stake in China's Kingway Brewery.
The company, a joint-venture between Fraser & Neave and Heineken, said earlier today that it will sell the 21.37% stake in Kingway held by Heineken-APB (China) (HAPBC) to the brewer's majority shareholder, GDH Ltd.
Last month, APB said that it had found a buyer for its stake and would proceed with the transaction unless GDH could match the terms. Subsequently, GDH will acquire the shares for the same amount - CNY1.08bn (US$164.5m).
Last month, the company's CEO, Roland Pirmez, said:"We believe that this is the best possible option for this asset, given the commissioning of our new brewery in Guangzhou and our current strategy to focus on the premium segment in China.”
APB’s share of the gain from disposal will be in the region of SGD38m (US$30.1m). HAPBC is 50%-owned by APB.
The transaction is expected to take place by the end of this month, after which “a further announcement will be issued by APB”, the company said.
Diageo's multi-million dollar partnership with Facebook is a sign of things to come and makes sense for all parties....
StarBev is working to launch its Staropramen lager in 15 new markets, the brewer's CEO has told just-drinks....
Heineken has made two executive appointments at its US division, with one moving across from Diageo and the other joining from Nielsen....
The Advertising Standards Authority has rejected a complaint made by Molson Coors in the UK about Heineken's recent global television advert for its namesake beer brand....
- Will Tequila Learn from Scotch Whisky's Mistakes?
- Comment - Beer - Does 'Craft' Work?
- Solving the diet drinks dilemma in the US
- Comment - How to Target Cognac's Mok Generation?
- SABMiller, Meantime Brewing say goodbye to 'craft'
- Whyte & Mackay takes on Flor de Caña in UK
- Diageo opens Johnnie Walker House in Singapore
- Emperador overhauls Whyte & Mackay labels
- SPI Group US, Canada sales chief departs
- Soaring Prosecco sales good for Champagne
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Beam Suntory Inc. - Strategy and SWOT Report