E-Malt.com News article: 290

Interbrew is accelerating the Belgian huge expansion in Asia. On July 10, 2002, in Brussels, Interbrew, the World’s Local Brewer, declared the signing of a Framework Agreement with the Zhujiang Brewery of Guangdong, the China’s third-largest brewery with its leading brand Zhujiang Beer. According to that agreement, Interbrew will initially subscribe to 24% of Zhujiang’s shares, with the intention of further increasing its stake within the framework of Chinese legislation.

Under the Framework Agreement Interbrew will influence the transformation of Zhujiang into a Joint Stock Company by the end of September. At the signing ceremony Hugo Powell, Chief Executive Officer of Interbrew, said: "It will allow us to create value by extending our platform in the most promising beer market in the world".

The former obtained Asian property of Interbrew is part ownership of China’s Nanjing Jinling Brewery and brewers in South Korea.


15 July, 2002