Yanjing Said to Near $714 Million Deal for Kingway Assets

Beijing Yanjing Brewery Co., China’s fourth-largest domestic beer maker, is nearing an agreement to buy brewery assets from Kingway Brewery Holdings Ltd. for as much as 4.5 billion yuan ($714 million), said people with knowledge of the matter.

Yanjing is a frontrunner after beating an offer from Anheuser-Busch InBev NV, two people said, asking not to be identified because the talks are confidential. China Resources Snow Brewery Co. dropped out of bidding last month, they said.