Heineken Takes $949 Million China Hit Amid Cautious Outlook
- Dutch company says stake in Chinese brewer has fallen in value
- Heineken CEO also sees weakness in other key markets
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Heineken NV took an €874 million ($949 million) impairment on its stake in the largest brewer in China, as consumer spending is under pressure in that key market and in the US and Europe.
The Dutch brewer cited a fall in the valuation of its stake in China’s largest brewer, China Resources Beer Holdings Co., due to concerns about consumer demand in the mainland that have affected its share price. The company also flagged weakness in the US and Europe that’s clouding its prospects.