China Resources to Buy Out Snow Beer Unit for $1.6 Billion

  • Deal gives company full ownership of world's best-selling beer
  • Transaction may help approval of AB InBev's SABMiller purchase

China Resources Beer (Holdings) Co. agreed to buy out the remaining stake in Snow Breweries, its Chinese joint venture with SABMiller Plc, for $1.6 billion, smoothing the way for a takeover of its partner by Anheuser-Busch InBev NV.

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