Property developer Yiu Wing International Holdings is to finalise its much-awaited acquisition of a 20 per cent stake in Tsingtao Brewery's Shenzhen factory, chairman Cheung Yiu-wing says. The proposed acquisition, foreshadowed 18 months ago, will take place next month when construction of the 100,000-tonne brewery is finished. Disagreements over the scale of the construction and business arrangements of the factory caused a delay of about two years. Under the latest proposal, Yiu Wing plans to purchase between 10 and 20 per cent of the factory from a company controlled by Yiu Wing executive director Cheung Kung-tai, the chairman said. Mr Cheung and related parties hold 49 per cent of the factory through Pine Seal Investment while the remainder is owned by H-share Tsingtao Brewery Co. '[Pine Seal] will sell us the stake without making a profit,' the chairman said. Mr Cheung spoke after the firm's extraordinary general meeting at which shareholders approved to off load 90 per cent of Mowbary Resources to China Everbright International for $208.64 million. Yiu Wing will retain a 10 per cent stake. Mowbary's main asset is the 80 per cent interest in a 10-kilometre expressway in Xiamen, which will be open for public use next month. Yiu Wing guaranteed China Everbright an annual return rate of 15 per cent on the expressway and an option to subscribe to Yiu Wing shares if the return is not achieved. Yiu Wing managing director Jenson Cheng Chao-ming said: 'We will net about $50 million and will invest the money into infrastructure projects across the border.'