Heineken enters deal with China Resources Enterprise and China Resources Beer

FILE PHOTO: A worker checks the quality of beer at a production line at the Snow Brewery in Shenyang, northeast China's Liaoning province February 2, 2007. REUTERS/Sheng Li/File Photo - Copyright Sheng Li(Reuters)

By Reuters

Published on 03/08/2018 - 02:34•Updated 25/04/2024 - 18:00

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(Reuters) - Heineken said it signed a non-binding agreement with China Resources Enterprise Limited and China Resources Beer Holdings and will become a minority partner with a 40 percent stake in the holding company CRH (Beer) Limited.

As part of the partnership, Heineken China's current operations will be combined with CR Beer's operations and Heineken will licence the Heineken brand in China to CR Beer on a long-term basis.