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SABMiller joint venture to purchase Chinese breweries for US$863 mil.

Reuters
February 7, 2013, 11:46 am TWN

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HONG KONG -- SABMiller, the world's second-biggest brewer, is to expand further into high-growth regional markets in China after a local joint venture agreed to buy Kingway Brewery assets for 5.38 billion yuan (US$863 million).

Asia's US$258 billion beer market is growing twice as fast as the rest of the world, leading to rising competition and expectations of more industry deals in the region this year.

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