Anheuser-Busch, SABMiller JV China Resources Snow Breweries place bids for brewery operations of Chinese beer maker Kingway Brewery Holdings, sources say
March 2, 2012
– Sources say that Anheuser-Busch InBev and SABMiller joint venture China Resources Snow Breweries Ltd. have placed bids for the brewery operations of Chinese beer maker Kingway Brewing Holdings Ltd., Dow Jones Newswires reported March 2.
Sources say there will be a six- to eight-week due diligence period. Last January, Kingway said it was inviting bidders as part of a strategic review.
Sources say that the company, which has a market capitalization of US$660 million, plans to sell its brand and most of its brewery facilities. However, it plans to keep two beer factories.
The primary source of this article is Dow Jones Newswires, New York, New York, on March 2, 2012.