UK: Golden-based Adolph Coors Co. announced on June 9 it had completed the property sale of 80 acres belonging to the former Cape Hill brewery in Birmingham, England, for approximately $46 million. The transaction was completed in May and is part of the company's objective to convert non-core assets to cash, accelerate debt repayments and grow returns on capital, according to Denver Business Journal.

Coors ceased beer-brewing operations at the Cape Hill facility in late 2002. The property was sold to U.K.-based developer Persimmon PLC.

Adolph Coors Co. is the world's ninth-largest brewer. Its principal subsidiary is Coors Brewing Co., the third-largest brewer in the United States. The company's operating unit in the United Kingdom, Coors Brewers Ltd., is the U.K.'s second-largest brewer.

10 June, 2004