Oct 11 China Resources Beer Holdings Co Ltd : * announces completion of acquisition of 49% of total issued share capital of china resources snow breweries
Company structure Ownership structure of a major Chinese producer is rather complex, and it has been recently changed. But the central company, serving as a base of brewing business is still China Resources Snow Breweries, Ltd. (CR Snow below).
China Resources Beer Holdings Co., maker of the world’s most popular beer, is considering a bid for SABMiller Plc’s central and eastern European assets, valued at about $6 billion, according to people familiar with the matter.
Over the past two decades, China Resources Beer has become the largest player in the Chinese beer market by aggressively snapping up smaller targets. But on Friday, management declared that from now on, it will only pursue big acquisitions.
China Resources Beer, the country’s biggest beer maker, offset lower sales due to floods and a deteriorating economy with improved cost efficiency to report a 45.1 per cent rise in net profit for the first half of the year.
Beer, as we know it today, was first brewed in China in 1900 when a brewery was founded in Harbin, the capital of Heilongjiang Province. The country has never looked back.
The worst floods in China since 1998 and cooler-than-usual weather are eroding sales at the nation’s brewers, deepening a slump caused by the economic slowdown.
Shares of state-backed China Resources Beer closed down 4.1% at 16.26 Hong Kong dollars on Wednesday after it announced a rights issue to fund the buyout of the world’s best-selling beer from joint-venture partner SABMiller.
Chief Financial Officer and the Company Secretary of the Company, due to his other career aspirations, and will cease to be a member of each of the Executive Committee, the Finance Committee and the Nomination Committee, all took effect on … Continue reading
Mr. Li Ruxiong resigned from the position of Executive Director, Chief Financial Officer and the company’s secretary. He will be replaced by Li Boasheng, who joined CR Brewery team in September 2008, at the age of 49.