CHINA: SABMiller takes control of three China breweries
The London-based brewer SABMiller announced on Friday that its Chinese joint venture, China Resources Breweries Limited (CRB), will raise its ownership of three breweries from 90% to 100% to gain full control of the Snow beer brand.
CRB, a joint venture between SABMiller and China Resources Enterprise Ltd, will buy the outstanding shares in China Resources' Snowflake Brewery, Shenyang Snowflake Beer Company and Shenyang Shengyang Beer Company from Shenyang Pi Jiu Chang for a cash consideration of HK$131.6m (US$16.9m) plus an additional consideration, likely not to exceed HK$7.8m.
SABMiller's managing director for Africa and Asia, Andre Parker, said on Thursday he was seeking strategic acquisitions to build business in China and India, saying the Asian economies were more attractive than its traditional African base.
The Friday statement said all three breweries concerned were in Shenyang, northeast China - one of the areas where Parker told Reuters he wished to build business around existing operations.
Having recorded a third consecutive year of volume, margin and earnings growth, global brewing force, SAB Miller, was in a position to give shareholders a 27% dividend increase and eye the acquisition...
Rumours that SABMiller is poised to launch a bid for Empresarial Bavaria swept the trading floor yesterday (2 June)....
The Indian subsidiary of SABMiller, MBL Investments (Mysore), has acquired the Shaw Wallace Group's 50% interest in the brewing operations of SABMiller's Indian joint-venture....
The German-owned investment house, Deutsche Bank, has upgraded shares in the UK-based international brewing group, SABMiller, from "hold" to "buy", and raised its target for the shares from 830p to 95...
The CEO of SABMiller has hailed the brewer's full-year figures as "very pleasing" today (19 May)....
SABMiller has seen its share rating upgraded....
Fresh rumours surrounding a possible bid for Scottish & Newcastle saw the brewer's share price rise sharply yesterday (18 May) morning....
SABMiller has agreed to acquire the Slovakian brewer Topvar. Topvar is located in the city of Topoľčany in Western Slovakia and sold 569,000 hectolitres of beer in 2004....
- The end is nigh for Global Travel Retail - Comment
- Five ways small brands can beat big players
- Interview, Bulldog Gin founder Anshuman Vohra
- Pernod Ricard's Q1 results - Preview
- Pernod Ricard Q1 2017 results by region, brand
- Diageo most at risk to Thai alcohol ban - analyst
- Jobs at new India hub won't affect staff - Diageo
- Stumbling UK Pound prompts Conviviality price hike
- US craft spirits could be as big as craft beer
- AB InBev fund ZX Ventures buys homebrew co
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global RTD insights - market forecasts, product innovation and consumer trends