On 2 March, China Resources Beer announces agreement with ABI to purchase 49% stake held by SABMiller Asia in China Resources Snow Breweries for US$1,600 million (equivalent to approximately HK$12,440 million).

The Board believes that the acquisition would be beneficial to the Company and the shareholders as a whole. It allows the Company to gain full ownership in China Resources Snow Breweries, ensures effective implementation of the Company’s growth strategies in the PRC; and allows full consolidation of China Resources Snow Breweries at the Company level, enhancing financial transparency to shareholders and eliminating any value leakage associated with a sizable minority interest. The acquisition is in the interests of the Company and the shareholders as a whole.