CHINA RESOURCES IN BREWERY BUY

Red chip China Resources Enterprise (CRE) - through a brewing subsidiary - will spend 19.2 million yuan (about HK$17.99 million) to buy the remaining 10 per cent stake in China Resources (Jilin) Breweries. The stake acquisition will make China Resources (Jilin) Brewery a wholly-owned subsidiary of China Resources Breweries, which is 51 per cent owned by CRE. The red chip said the equity purchase would enable it to fully implement a national brand strategy.