Anheuser-Busch InBev sells SABMiller CR Snow stake to China Resources Beer

Anheuser-Busch InBev has agreed to sell SABMiller's 49% interest in China Resources Snow Breweries to China Resources Beer (CRB) for US$1.6bn.

CRB currently owns 51% of the joint venture. The sale follows AB InBev's commitment to address potential regulatory clashes relating to its acquisition of SABMiller.

The deal with CRB is conditional on the completion of AB InBev's acquisition of SAB, which is currently expected to close in the second half of 2016.

In January, AB InBev was rumoured to be trying to hold on to the stake in CR Snow, although analysts had previously said this was unlikely, due to Chinese regulator MOFCOM's stipulations.