CHINA: InBev closes Fujian Sedrin purchase
InBev has completed the acquisition of Fujian Sedrin Brewery Co.
The global brewer, which announced the completion on Friday (9 June), had initially planned to have the deal closed by the end of this year.
InBev has subsequently created InBev Sedrin, a wholly foreign-owned enterprise under the brewer's control.
"The accelerated closing of this transaction allows the InBev group to realise the benefits from synergies earlier than originally anticipated," the company noted. In January, InBev announced that it was buying the company for CNY5.9bn (US$730m).
InBev China has operations in 8 provinces: Guangdong, Hebei, Hubei, Hunan, Jiangsu, Zhejiang, Fujian and Jiangxi. The Sedrin brand becomes InBev's fifth largest brand globally by volume.
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