20 September 2018

Zhujiang Brewery to get 2.3 bln yuan to move HQ, filing says

Guangzhou Zhujiang Brewery Co. Ltd. (002461.CN) said in a regulatory filing Tuesday that the Guangzhou municipal government will pay it 2.3 billion yuan (US$377.46 million) in compensation for relocating the brewery’s headquarters. The site of the present headquarters covers 242,900 square meters and the complex does not fit with the city’s development plans, the filing said. The company will hand over all but 69,100 square meters of the site and be paid in instalments, the filing said.

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