CHINA: Beijing Yanjing pulls out of Kingway race - report
By James Wilmore | 14 June 2012
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Kingway Brewery is seeking outside investment |
Beijing Yanjing Brewery Co has pulled out of the battle to acquire control of China’s Kingway Brewery, according to reports.
Beijing Yanjing, which was thought to among the frontrunners of companies to capture Kingway's assets, is believed to have failed to reach an agreement on price, Reuters has reported today (14 June). Guangdong-based Kingway, which is controlled by state-owned GDH, is looking for outside investment due to weak finances.
Beijing Yanjing has yet to respond to a request for comment from just-drinks.
Anheuser-Bush InBev and SABMiller's joint venture with China Resources Enterprise, CR Snow Breweries, were also thought to be in the running for control of Kingway.
Expert analysis
Beer in China
Beer in China industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2006-10, and forecast to 2015). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the China beer market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
Sectors: Beer & cider, Mergers & acquisitions
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