AB InBev to sell SABMiller's China JV stake for US$1.6b

Shanghai

THE world's top brewer Anheuser-Busch InBev has agreed to sell SABMiller's stake in China's leading beermaker to the local partner for US$1.6 billion, according to a statement on Wednesday, as part of a mega-merger between the giants.

China Resources Beer (Holdings) Co will buy the 49 per cent stake in Snow Breweries, its joint venture with Britain's SABMiller, it said in a statement to the Hong Kong stock exchange, where it is listed.