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SABMiller JV to Buy China Brewery

SABMiller Plc’s joint venture in China agreed to pay HK$6.6 billion ($851 million) for beermaking assets from Kingway Brewery Holdings Ltd. to boost its share of the world’s biggest market for the beverage. China Resources Snow Breweries Ltd., which SABMiller co- owns with government-backed China Resources Enterprise Ltd., will acquire Kingway’s production and sales business, including seven breweries, it said yesterday in a statement. Kingway shares rose to the highest in almost six years. (Bloomberg)