Yanjing Brewery Said to Plan Stake Sale to Foreign Investor

Beijing Yanjing Brewery Co., China’s third-largest beermaker, plans to sell about a 20 percent stake to a foreign strategic partner, people with knowledge of the matter said.

The company, backed by the Beijing municipal government, has reached out to potential investors including overseas brewers, two of the people said, asking not to be identified as the matter is private. The stake could be valued at about $700 million based on Yanjing’s current share price, according to data compiled by Bloomberg.