Heineken Seals €2.7bn Tie-Up With China Resources Beer
Heineken NV has struck a €2.7 billion partnership with a company that controls China's largest brewer, China Resources Beer Co Ltd , as the two firms seek to tap a growing thirst for premium brands in the world's biggest beer market.
The deal will see Heineken, the world's No. 2 brewer, take a 40 percent stake in CRH Beer for HK$24.35 billion (€2.7 billion), giving the Dutch brewer a strong distribution network in China and greater access to one of the world's fastest-growing premium beer sectors.
China Resources Enterprise, which owns CR Beer, will also buy 0.9 percent of Heineken shares for €464 million. The combined transactions would result in a net investment of €1.9 billion euros by Heineken, the two firms said in a joint statement.
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