Heineken has seen talks to up its stake in Kingway Brewery Holdings come to an end. In an announcement earlier today (24 August), Kingway said that its parent company, GDH Ltd., which owns 52.63% of the brewer, and Heineken saw no significant progress in the discussions.

A spokeswoman for Heineken, which currently has a 21.44% stake in Kingway through its joint venture with Singapore's Asia-Pacific Breweries Ltd., said: "The talks have been discontinued for the time being, but we remain interested."

Kingway Brewery chairman Ye Xuguan said: "Both parties are of the view that it is not in the company's interests for uncertainty to continue over whether there will be any takeover offer for the company and have decided to discontinue such discussions."

Ye added that GDH Ltd. and Heineken-APB China will instead "focus their efforts on continuing to further cooperation at an operational level."