CR Beer launches $1.2b rights issue for JV buyout

The proceeds will be used to part-fund the acquisition of the 49% stake of CR Snow that it doesn't already own following the merger of beer giants AB InBev and SABMiller.

Danny Leung

July 06, 2016

China Resources Beer (CR Beer) launched a HK$9.5 billion ($1.2 billion) rights issue on Wednesday, the biggest in Hong Kong for more than two years, to part-fund the buyout of its SABMiller joint venture China Resources Snow Breweries (CR Snow).

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