China Resources Beer to buy 49% of SABMiller venture for US$1.6b

[TOKYO] China Resources Beer (Holdings) Co agreed to buy the remaining stake in Snow beer, its Chinese brewery joint venture with SABMiller Plc, for US$1.6 billion.

The state-backed company will purchase all of SABMiller's 49 per cent stake in China Resources Snow Breweries Co, maker of the world's best-selling beer, according to a statement with the Hong Kong stock exchange.

BLOOMBERG