Pursuits
China Resources Jumps as AB InBev Deal Seen Boosting Beer Sales
- ABI may buy SABMiller, China Resources' beer-making partner
- Deal could face antitrust scrutiny from Chinese regulator
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China Resources Enterprise Ltd. rose to its highest in three months as Anheuser-Busch InBev NV’s planned offer to buy the Hong Kong-based beermaker’s partner SABMiller Plc could help boost sales and yield cost savings in China thanks to a boosted combined market share.
China Resources rose as much as 5.9 percent to HK$26 in Hong Kong trading, the highest intraday level since June 19, while the Hang Seng Index climbed 1 percent. SABMiller has a 49 percent stake in a joint venture with China Resources to produce the country’s best-selling Snow Beer.