China: InBev closes acquisition of Fujian Sedrin Brewery in China
InBev announced the completion of its acquisition of Fujian Sedrin Brewery Co. Ltd. in China, ahead of the originally anticipated completion date of end 2006. With all the necessary regulatory approvals obtained, InBev Sedrin, a wholly foreign owned enterprise, has now been duly established. InBev paid RMB 5,886 million (equivalent to EUR614 million) for a 100% stake in Fujian Sedrin. The acquisition further consolidates InBev’s leadership position in southeast China.
The accelerated closing of this transaction allows the InBev group to realize the benefits from synergies earlier than originally anticipated.
Combined with InBev’s existing operations in China, this transaction positions InBev as one of the largest brewers in China with 36 million hl volumes sold in 2005 and a leading presence in the affluent southeastern part of China.
InBev China has operations in 8 provinces: Guangdong, Hebei, Hubei, Hunan, Jiangsu, Zhejiang, Fujian and Jiangxi. With this acquisition, the Sedrin® brand becomes InBev’s fifth largest brand globally by volume.
InBev is a publicly traded company based in Leuven, Belgium. The company's origins date back to 1366, and today it is the leading global brewer by volume. InBev’s strategy is to strengthen its local platforms by building significant positions in the world's major beer markets through organic growth, world-class efficiency, targeted external growth, and by putting consumers first. InBev has a portfolio of more than 200 brands, including Stella Artois®, Brahma®, Beck’s®, Leffe® and Skol® - the third-largest selling beer brand in the world. InBev employs some 77,000 people, running operations in over 30 countries across the Americas, Europe and Asia Pacific. In 2005, InBev realized 11.7 billion euro revenue.
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