Heineken N.V.wants a bigger sip of the Chinese market - by owning a stake in China Resources Beer (CR Beer).
By buying 41% of CR beer for $3.1 billion, the Dutch brewery will hand over its Chinese operation to CR. The deal also allows CR Beer to sell the Heineken beverage in China and to own 0.9% of Heineken N.V.’s equity.
The partnership seems to be Heineken’s big move to boost its sales in China, given the company only had 0.5% share in the world’s largest beer market as of last year (as Euromonitor data suggests).