Heineken ends talks on stake increase
26 August 2005
Dutch brewer Heineken NV has halted talks on increasing its stake in Chinese beer maker Kingway Brewer Holdings Ltd, the Chinese company said in a statement to the Hong Kong Stock Exchange. Heineken-APB, a joint venture with Singapore's Asia-Pacific Breweries, paid US$74.6 million for a 21.4% stake in Kingway last year and had been negotiating to take over part of Guangdong Holdings' 52.6% controlling stake. In April Heineken-APB paid US$28.6 million for 40% of Jiangsu Dafuhao Beer Co Ltd.
