CHINA: Yanjing "quashes InBev talk"
Chinese brewer Beijing Yanjing has no intention to bring in InBev as a strategic investor, local reports said yesterday (12 September).
The brewer, the third-largest in China, quashed speculation that it would sell a stake in the company to InBev for CNY21 (US$2.64) a share, the SinoCast China Business Daily News agency said.
InBev declined to comment when contacted by just-drinks this morning.
Beijing Yanjing is the only top brewer in China that has refused to join forces with the world's brewing heavyweights.
China, the world's largest beer market by volume, remains a key emerging market for multinational brewers keen to tap into burgeoning beer consumption in the country.
Earlier this month, it was reported that beer consumption reached 30m tons in China last year. Per capita consumption stood at 24.2 litres.
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