Hong Kong: Yanjing Brewery, the beer unit of Beijing Enterprises Holdings Ltd., intends to invest from CNY300 million to CNY500 million to buy stakes in other local breweries, the Hong Kong’s newspaper Wen Wei Po posted on April 6.

Citing a Yanjing Brewery senior official, the report says the firm's parent Beijing Enterprises is holding talks with a few breweries in eastern and southern China to buy a 51% controlling stake. The paper says the acquisition targets have annual production of more than 100,000 metric tons of beer. One or two deals are expected to be finalized this year.

Beijing Enterprises is the investment arm of Beijing's municipal government.

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