China brewers eye Hong Kong Kingway's beer assets: source
(Reuters) - Chinese brewers including China Resources Enterprise Ltd (0291.HK) and Tsingtao Brewery Co Ltd (0168.HK) are among potential suitors eyeing bids for the brewery operations of Hong Kong-listed Kingway Brewery Holdings Ltd (0124.HK), a source familiar with the matter told Reuters on Monday.
Kingway is jointly controlled by Asia Pacific Breweries Ltd (APB) APBB.SI, a unit of Singapore food and property conglomerate Fraser and Neave Ltd (FRNM.SI), and the world's third-largest brewer Heineken NV (HEIN.AS).
Shares of Kingway, which has a market capitalization of about $550 million, were up 2.8 percent on Monday afternoon.
The world's largest brewer Anheuser-Busch InBev SA (ABI.BR) has also expressed interest in buying the assets, Dow Jones reported, citing people familiar with the situation.
The report added that bids were due by the third week of February and several parties had expressed interest in buying the assets.
China Resources Enterprise, whose beer brands include Snow, and Kingway declined comment. Anheuser-Busch InBev and Tsingtao (600600.SS) were not immediately available for comment.
(Reporting by Sakthi Prasad in BANGALORE and Donny Kwok in HONG KONG; Editing by Muralikumar Anantharaman and Chris Lewis)
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