SABMiller Plc, the world’s second-biggest brewer, said its will buy a local partner for $320m through its venture with China Resources Snow Breweries.
The acquisition will increase its capacity in China by 41%.
The brewer agreed to buy shares it doesn’t already own in Blue Sword.
Blue Sword has a 38% stake in 14 breweries based in the Sichuan province in South West China. The remaining 62% is owned by SABMiller’s venture partner CR Snow.
SABMiller’s share price is currently trading at R161,20 down 5c from yesterday’s close.