China Resources Beer (Holdings) has chosen which banks will advise on options for its Chinese brewery joint venture with SABMiller. According to reports, HSBC Holdings Plc, Nomura Holdings Inc., Rothschild and UBS Group AG, have been chosen as advisory institutions ahead of the deal.
According to Euromonitor data, Snow beer, which had a 23% market share in China in 2014, outsells all other beers globally. State-backed China Resources Beer has been considering a purchase of all or part of SABMiller's 49% stake in Snow Breweries Co. It has been alleged that SABMiller's stake in the Chinese venture could fetch as much as $3.6 billion.
Should China Resources decide to sell, Anheuser-Busch InBev would be the logical buyer. It also has right of first refusal. AB InBev, however, has not yet decided whether it will or will not be buying the shares.
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