AB InBev to sell SABMiller’s Snow stake to China Resources
Anheuser-Busch InBev (AB InBev) has agreed to sell SABMiller’s 49% stake in China Resources (CR Snow) brand to SABMiller’s joint-venture partner, China Resources Beer (Holdings) Co Ltd.
Snow is the world’s No. 1 selling beer by volume. SABMiller held 49% stake in the joint-venture with China Resources Beer (Holdings) Co Ltd, which held the remaining 51%. With the sale, which is valued at $1.6bn, China Resources Beer (Holdings) Co Limited takes full ownership of the Snow beer brand.
The sale is part of AB InBev’s global efforts to soothe regulatory concerns over its acquisition of SABMiller. AB InBev has already struck similar deals to sell SABMiller’s stake in U.S. joint-venture MillerCoors to MolsonCoors Brewing, SABMiller’s joint-venture partner. AB InBev also agreed to sell SABMiller’s Peroni, Grolsch and Meantime brands to Japan’s Asahi Group Holdings.
The sale of SABMiller’s interest in CR Snow is conditional on the successful closing of AB InBev’s acquisition of SABMiller, which is expected to close in the second half of 2016.