SABMiller, the world’s second-biggest brewer, said on Monday that its Chinese affiliate CR Snow had agreed to buy Yinyan Brewery in China for $42,3-million dollars.
China Resources Snow Breweries had decided to also buy the brewing assets of Xiangwang Brewery for $10,1-million dollars, United Kingdom-based SABMiller said in an official statement.
SABMiller, which owns 49% of CR Snow, said the two acquisitions were ”strategic” for the development of CR Snow in China. — Sapa