25 October, 2022

China: China Resources Beer Holdings agrees to take 55.19% stake in liquor maker Guizhou Jinsha Jiaojiu Winery Industry Co

China Resources Beer Holdings said on October 25 its unit agreed to obtain 55.19% stake in Chinese colourless liquor maker Guizhou Jinsha Jiaojiu Winery Industry Co for about $1.68 billion, as it diversifies alcohol businesses with non-beer assets, Nasdaq reported.

China Resources Wine Holdings Limited would boost capital in Jinsha Jiaojiu by 1.03 billion yuan ($140.93 million), after which it would hold 4.61% stake in the maker of Chinese colourless "baijiu", and then acquire another 50.58% stake for 11.27 billion yuan, China Resources Beer said in a filing.

The acquisition is pending government regulatory approval, China Resources Beer said.

China Resources Wine Holdings agreed to boost capital in Shandong Jingzhi Baijiu, another Chinese colourless liquor manufacturer, China Resources Beer said in August 2021, without disclosing the size of the transaction.

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