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SABMiller PLC's Joint Venture with China Resources Enterprise Ltd to Acquire for CNY 5.38 Billion Brewery Business from Kingway Brewery Holdings Ltd
SABMiller PLC announced that China Resources Snow Breweries Limited (Snow), SABMiller PLC's joint venture with China Resources Enterprise Ltd (CRE), has entered into an agreement with Kingway Brewery Holdings Ltd (Kingway) to acquire Kingway's brewery business (Brewery Business), for a total cash consideration of CNY 5.38 billion (USD 864.00 million). The Brewery Business comprises seven breweries in China and has total annual production capacity of 14.5 million hectoliters.
Latest Developments for China Resources Enterprise Ltd
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