Anheuser-Busch, two Chinese brewers in race to buy stake in Kingway Brewery
03 Mar 2012
Anheuser-Busch InBev NV and two Chinese brewers are in the race to buy a stake, potentially worth as much as $700 million, in China's Kingway Brewery assets,
Reuters yesterday reported, citing sources with knowledge of the matter.
With a market value of about $655 million, Kingway is looking to sell equity stakes in six breweries, all beer and beer-related trade marks, domestic and overseas distribution networks, but not its two beer plants.
The planned dilution of stake of its assets comes after Kingway conducted a strategic review last month in order to improve to improve profitability and create new income streams.
China Resources Enterprise Ltd, the owner of Snow beer brand, and Beijing Yanjing Brewery Co Ltd are among the other companies that have advanced to the next round, the report said.
It is not clear whether London-based SABMiller, the world's second-largest drinks company by volume, which owns brands including Grolsch and Miller Lite, and Hong Kong-listed Tsingtao Brewery Co have also bid.