BRUSSELS: Dutch brewing company Heineken has said it’s buying a 40 percent stake in the company that controls China’s biggest beer maker, China Resources Beer.
Heineken said in a statement Friday that it would invest $3.1 billion in the venture as it seeks to expand in the world’s biggest beer market.
It has said that Chinese drinkers are embracing imported beers and that CRB, producer of the best-selling Snow lager, lacks a premium overseas brand.
The stake in CRB would significantly boost Heineken’s distribution reach.
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