Date
14 December 2017
CR group will emerge as the largest brewer in China with the expected acquisition of SABMiller’s interest in a joint venture. Photo: Reuters
CR group will emerge as the largest brewer in China with the expected acquisition of SABMiller’s interest in a joint venture. Photo: Reuters

CR Beer nears deal for purchase of SABMiller stake in China JV

Anheuser-Busch InBev is nearing a deal for the sale of SABMiller’s Chinese beer business to China Resources Beer Holdings, the Wall Street Journal reported, citing sources familiar with the matter.

Under terms being discussed, China Resources Beer Holdings will acquire SABMiller’s 49 percent interest in CR Snow, the report said.

Financial terms are yet to be finalized, sources were quoted as saying.

AB InBev had been expected to arrange for the sale of SABMiller’s stake in Snow since announcing last year its roughly US$108 billion takeover of SABMiller.

China Resources had the first option to buy SABMiller’s interest in the CR Snow joint venture.

The Chinese brewer last year decided to focus on beer by exiting its retail and food businesses.

Acquisition of Snow will make China Resources the largest brewer in China with a 30 percent market share, according to the report.

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