Hongkong- China Resources Enterprise Ltd. will acquire the brewing operations of Kingway Brewery Holdings Ltd., a midtier company based in Guangdong Province, for 5.38 billion yuan, including Kingway's liabilities.
The move is a sign that competition in the world's largest beer market is only growing.
China Resources is already China's largest beer brewer by sales volume. It places a premium on the short-term growth of the domestic beer demand. It won the deal with Kingway against foreign rivals and other Chinese players, including Tsingtao Brewery Co....
Resource: The Nikkei Weekly
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