CHINA: SABMiller to sell remaining stake in China’s Snow Breweries | Progresiv
Anheuser-Busch has agreed to sell SABMiller’s 49% interest in its Chinese joint venture, China Resources Snow Breweries (CR Snow), for a sale price of 1.6 billion dollars. 
The stake will be acquired by China Resources Beer Co (CRB), which will increase its share from 51% to 100%. The sale agreement is in line with Anheuser-Busch’s commitment to proactively address potential regulatory considerations relating to its recommended acquisition of SABMiller.
The proposed transaction is expected to close in conjunction with the completion of the SABMiller deal, which is currently expected to be in the second half of 2016, Anheuser-Busch said.
SABMiller chief executive Alan Clark said: “Our CR Snow joint venture was established in 1994 and the Snow brand was developed in the same year. Since then, Snow has grown to become the world’s largest beer brand by volume, selling more than 100m hectolitres last year. Since forming the joint venture we have enjoyed a mutually beneficial partnership with CRB and together we have achieved great things in the Chinese beer market over the last 22 years.” (www.foodbev.com)
