E-Malt.com News article: 832

Guangdong Investment Ltd., has signed a 75 billion yuan (US$1=CNY8.28) deal that will raise its Guangdong Brewery Holdings Ltd.'s stake in three related companies, Shenzhen Kingway Brewing, Shenzhen Utility and Shenzhen Kingway Packagin. The three companies, manufacture beer under Kingway brand.

Guangdong Brewery Holdings Ltd. is a Hong Kong-listed company.

Guangdong is to buy the 10% stake in each company owned by Shenzhen Bao An District Investment. Guangdong Investment intends to buy CNY15 billion in shares from Shenzhen Bao An District Investment, at the same time taking on an existing CNY60 billion loan owed by Guangdong Brewery.

The transaction will raise the brewery's stake in each of the three companies to about 97% from the current 87%.


01 April, 2003