The Chinese brewer Beijing Yanjing Brewery Co announced on December 02 that it intends to purchase a 38.1% stake in Huiquan Brewage Group Inc. Fujian China for Ґ376.7 million. The price is an increase on the original Ґ362.4 million. Yanjing said it was going to pay for the stake in July, following a request from the State-Owned Assets Supervision and Administration Commission of the State Council, which oversees the sales of state assets, for a higher bid. The deal will make Yanjing Brewery the largest shareholder in Huiquan Brewage, creating one of China's biggest beer alliances.
03 December, 2003
