According to a report by Bloomberg, China Resources Beer (Holdings) Co. is close to acquiring the remaining stake in Snow beer it doesn't already own.
Snow beer is a Chinese brewery joint venture with SABMiller Plc.
Bloomberg, citing "people with knowledge of the matter," reported that China Resources could acquire SABMiller's 49 percent stake in the entity for around $2 billion. The report added that Anheuser Busch Inbev SA (ADR) BUD may need to sell its stake to appease Chinese regulators for its acquisition of SABMiller.
Shares of Anheuser Busch were trading lower by nearly 2 percent after Wednesday's market open as the $2 billion valuation placed on SABMiller's stake is well short of the $5 billion valuation that several Wall Street analysts placed on the holdings.
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