18 August 2011 | 09:35am
StockMarketWire.com - SABMiller plc has announced that China Resources Snow Breweries Limited (CR Snow), its joint venture with China Resources Enterprise, Limited, has entered into an agreement with China Kweichow Moutai Distillery Co. Ltd to jointly invest in Guizhou Moutai Beer and form a joint venture called China Resources Snow Breweries (Junyi) Limited.

As part of the transaction, CR Snow will inject RMB 270 million (approximately US$42 million) in return for a 70% equity stake in the joint venture.