Heineken: agrees on China strategic deal
(CercleFinance.com) - Heineken said it has signed a long-term strategic partnership with China Resources Enterprise (CRE) and China Resources Beer (CR) to win market share in China, the world's largest beer market by volume.
Under the agreement, the Dutch brewer will acquire a 40% stake in CBL, the holding company that controls CR Beer, which is currently the market leader in China with the brand Snow.
Under this partnership, Heineken China's operations will be combined with CR Beer's operations and Heineken will license the Heineken brand in China to CR Beer over the long term, the companies said.
All in all, the transactions will result in a net investment of close to 1.95 billion euros by Heineken, the Amsterdam-based brewer said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Under the agreement, the Dutch brewer will acquire a 40% stake in CBL, the holding company that controls CR Beer, which is currently the market leader in China with the brand Snow.
Under this partnership, Heineken China's operations will be combined with CR Beer's operations and Heineken will license the Heineken brand in China to CR Beer over the long term, the companies said.
All in all, the transactions will result in a net investment of close to 1.95 billion euros by Heineken, the Amsterdam-based brewer said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.