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CHINA: SABMiller takes control of three China breweries

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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.


Companies: SABMiller

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