SABMiller’s Chinese joint venture, China Resources Snow Breweries, has reportedly upped its holding in one of its breweries in the country’s Zhejiang region, according to local reports.

Citing a statement from SABMiller’s partner, China Resources Enterprise, ADPnews China said yesterday (14 April) that the alliance will increase its stake in CR Snow Zhejiang to 97% after buying the 27% holding of one of its directors for CNY134.9m (US$19.7m).

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CR Snow, which is 49%-owned by SABMiller and 51%-owned by China Resources Enterprise, owns five breweries in Zhejiang province and is looking to consolidate its production there, ADPnews cited China Resources as saying in the statement.

When contacted by just-drinks yesterday, however, a spokesperson for SABMiller could not confirm the transaction, as no announcement had yet been made by the brewer’s local team.

CR Snow’s flagship beer, Snow, became the best-selling in China in 2006. The company has 64 breweries in the country.

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