The brewers China JV has completed the deal

The brewer's China JV has completed the deal

SABMiller's Chinese joint-venture has completed its US$864m acquisition of Kingway Brewery Holdings in the country.

In a filing yesterday (17 September), the UK-headquartered brewer said that China Resources Snow Breweries, its JV with China Resources Enterprise, had sealed the deal, following regulatory and shareholder approval. The transaction was first announced in February

Kingway's business comprises seven breweries, four of which are in Guangdong province, with sites also in the Sichuan and Shaanxi provinces and Tianjin municipality. Total annual production capacity of the facilities stands at 14.5m hectolitres. 

SABMiller's MD for Asia Pacific, Ari Mervis said at the time: “The acquisition of Kingway gives us greater access to high growth and attractive regional markets in China, thereby enhancing CR Snow’s competitive position.”