Davis Polk & Wardwell is advising Hong Kong-based China Resources Beer (Holdings) Co. Ltd. on a $1.6 billion acquisition of China Resources Snow Breweries Ltd. from Anheuser-Busch InBev S.A.
In a deal announced on Wednesday, the Chinese food and beverage giant will buy the remaining 49 percent stake in Snow Breweries it doesn’t already own. Snow Breweries has been a joint venture between London-based SABMiller Plc. and state-owned China Resources Enterprises Ltd. In October, SABMiller was acquired by AB InBev for $104 billion.
