Cheers to JV
Source: Agencies |
January 26, 2011, Wednesday
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Print Edition
Print Edition
JAPANESE brewer Kirin Holdings and top Chinese beer maker China Resources Enterprise have agreed to set up a joint venture to produce and distribute non-alcoholic beverages in China.
Kirin is trying to diversify its operations and grow outside its saturated home market, while China Resources wants to strengthen its Chinese mainland offerings to tap the nation's rapid growth in consumption.
Kirin will invest about US$400 million to take 40 percent of the venture, which will produce non-alcoholic drinks such as bottled water and other soft drinks. China Resources will hold the rest, the two firms said on Monday.
Kirin will also transfer ownership of four local subsidiaries in Shanghai and Beijing to the joint company.
Kirin is trying to diversify its operations and grow outside its saturated home market, while China Resources wants to strengthen its Chinese mainland offerings to tap the nation's rapid growth in consumption.
Kirin will invest about US$400 million to take 40 percent of the venture, which will produce non-alcoholic drinks such as bottled water and other soft drinks. China Resources will hold the rest, the two firms said on Monday.
Kirin will also transfer ownership of four local subsidiaries in Shanghai and Beijing to the joint company.
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