CHINA: Interbrew poised to take stake in China brewer
The two companies signed a Memorandum of Understanding which offers Interbrew the opportunity to become one of the promoters of Zhu Jiang Brewery's transformation into a Joint Stock Company. Zhu Jiang Brewery is preparing for an IPO in 2003.
"This could result in Interbrew taking up to 25% in the Zhu Jiang Joint Stock Company, subject to final agreement on price and related conditions," Interbrew said in a statement.
The IPO aims to raise 1 billion yuan (US$120.7m). Zhujiang Beer is the only remaining unlisted major Chinese brewery, while its close rivals Shandong-based Tsingtao and Beijing-based Yanjing floated in 1993 and 1997 respectively. As the third largest beer brewer Zhu Jiang saw sales volumes in 2001 of 7.5 million hectolitres. The Zhu Jiang brewery is the market leader in the Guangdong Province with an approximate 50% market share and its leading brands are Zhu Jiang, Supra and Zhu Jiang Draught beer. It is also the most profitable brewery by hectolitre sold in China.
Since its creation in 1984, the Zhu Jiang brewery and Interbrew have built a strong relationship. Interbrew provided the brewery with technical expertise during the first and second phase of the construction of the brewery (in 1984 and 1986 respectively). In the past 18 years, many Chinese professionals from the Zhu Jiang brewery have participated in internships with Interbrew in Belgium and benefited from the transfer of technical brewing know-how.
“Interbrew is pleased to continue its relationship with Zhu Jiang by drawing on its recently gained experiences through its own IPO in December 2000.” said Hugo Powell, Chief Executive Officer of Interbrew.
Companies: Anheuser-Busch InBev
The global roll-out of InBev's Brazilian beer, Brahma, adds a third premium brand to the global brewer's international portfolio but some observers have suggested it's an unnecessary step which threat...
SUN Interbrew is looking to relinquish its stake in Pivoindustriya Primorya....
Interbrew UK has poached two marketing managers from rival brewers....
Interbrew is to place a £1m support package behind its Czech brand Staropramen in the UK....
InBev has announced that the deadline for the receipt of acceptances for the recommended offers of US$33.41 for the remaining Class A (non-voting) shares in SUN Interbrew, along with Class A Securitie...
SUN Interbrew is looking to buy into a Siberian brewer, according to local press reports....
Interbrew UK has announced plans to launch a new speciality beer....
InBev has extended the deadline for the receipt of acceptances for the recommended offers of USD33.41 in cash for the remaining shares and Securities that it does not already own in SUN Interbrew (SIL...
- Brown-Forman's march on premium whisk(e)y -Comment
- Where does AB InBev see the future of beer?
- SABMiller in Cent'l & E Europe - What is for sale?
- Are consumers getting tired of consuming?
- A-B InBev and its SABMiller divestments - Focus
- Brown-Forman to buy BenRiach Distillery Co
- Bacardi rolls out new global Martini ad - video
- Brown-Forman appoints new GTR marketing head
- Molson Coors' Rekorderlig Cider Cocktails - NPD
- Carlsberg's Shed Head and Bad Apple craft - NPD
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Consumer and Market Insights: Wine Market in China
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- What Next for Beer and Brewers Following the MegaBrew Deal?
- Emerging Drinks Industry Trends