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CHINA: Yanjing announces Beijing JV

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The board of Yanjing Brewery Co has approved a new 75-25 joint venture with its indirect controlling shareholder Beijing Enterprise Brewery.

The brewery will invest RMB75m (US$9.07m) in the joint venture, which is capitalised at RMB100m, with British Virgin Islands-registered Beijing Enterprise contributing US$3.02m, Yanjing said in a statement.

The two companies intend to build a new brewery soon in Guangdong province with an annual capacity of 100,000 tons.

The deal is a related-party transaction with Beijing Enterprise indirectly holding a 55% stake in Yanjing Brewery, Yanjing said in a statement.

Yanjing Brewery has around 20 subsidiaries in China, giving it a 10% share of the domestic beer market as of the end of 2003.


Sectors: Beer & cider

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