Pursuits
SABMiller's Chinese Partner Said to Seek Pitches on Snow Beer JV
- China Resources mulls potential purchase of Snow brewery stake
- Deal could fetch up to $3.6 billion, according to Nomura
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China Resources Beer (Holdings) Co. will soon ask investment banks to pitch for a role advising on options for its Chinese brewery joint venture with SABMiller Plc, people with knowledge of the matter said.
The state-backed company is seeking advisers as it weighs a potential purchase of all or part of SABMiller’s 49 percent stake in China Resources Snow Breweries Co., maker of the world’s best-selling beer, the people said. China Resources has told banks it will send out a formal request for proposals as early as this week, the people said, asking not to be identified as the information is private.