On March 2, state-owned China Resources (Holdings) Limited (hereinafter "CR”) announced that they are preparing to spend 1.6 billion USD (about 10.5 billion RMB) to purchase the remaining 49% of China Resources Snow Breweries Ltd (hereinafter “CR Snow”) currently owned by SABMiller.
CR Snow, the maker of Snow, the world’s best-selling beer, was founded as a joint venture between SAB Miller and CR back in 1994, and with this deal, CR will go from owning 51% of CR Snow to owning it entirely.
The deal comes as a result of last year’s acquisition of SAB Miller by Anheuser-Busch InBev, where in order to obtain Chinese antitrust approval, SAB Miller had to give up its stake in CR Snow. In accordance with the joint venture arrangements, CR Snow has first dibs.
China Resources Snow Breweries is China’s largest beer producer with 98 breweries in China and over 30 regional brands that account for approximately 24% of Chinese beer market share.
Source: thepaper.cn
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Keywords: Anheuser-Busch InBev China beer industry SABMiller acquisition Snow beer
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Snow Beer might be best selling in the third world but it still tastes like piss.
Mar 11, 2016 11:00 Report Abuse
I don't think they should be allowed to call themselves the worlds best selling beer. It barely even tastes like beer.
Mar 10, 2016 22:56 Report Abuse
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