Run Beer has committed more than 2.3 billion purchases of Heineken Hong Kong and Macao business

China Resources Beer (00291) announced the acquisition of Heineken China and Hong Kong and Macau businesses in August. The company announced details of the acquisition agreement yesterday. Run Beer said that it signed an agreement with Heineken Group on Monday, and Run Beer purchased Heineken’s 6 companies in China and Heineken Hong Kong for 2.35 billion yuan.

Run Beer has signed a framework agreement on the exclusive use of the Heineken brand trademark and the long-term strategic partnership with the Heineken Group. According to the data, 4 of Heineken’s 6 Chinese companies recorded losses last year, totaling 82.2 million yuan. In Hong Kong and Macau, both 2016 and last year recorded losses of 5.4 million yuan and 3.9 million yuan respectively.

In addition, Run Beer pointed out that Heineken’s global distribution network, knowledge and capabilities in high-end beer will help the company’s beer brand to become international and become the best-selling Chinese beer brand in the international market.