China Resources Beer to buy SABMiller stake
China Resources Beer (Holdings) Co Ltd said it seeks to raise HK$9.51 billion ($1.2 billion) via a deeply discounted rights offer to partly fund the purchase of SABMiller Plc’s stake in their joint venture. The owner of Snow, the world’s biggest selling beer brand by volume, made the announcement onWednesday after which its shares fell to a two-and-ahalf-month low. China Resources Beer said CRH Beer, its controlling shareholder with a 51.67 percent stake, will take up its allotment. family’s investment vehicle has been in exclusive talks with theAsian investorswhohave been conducting detailed analysis of the club’s finances for several months. Now, a deal in principle has been reached, according to Berlusconi, whospoke to reporters after leaving aMilan hospitalonTuesday after heart surgery last month. Britain’s vote to exit the European Union sent asset prices into a tailspin. Policymakers on Tuesday emphasised that the seize-up was confined to the sector of “open-ended” funds in real estate that normally allow investors to exit at will, and did not signal a liquidity problem in wider financial markets. go is accepting that change makes way for new and better experiences,” BlackBerry chief operating officer Ralph Pini said in a blog post. Blackberry launched the Classic in December 2014.