Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address


  Print      Mail a friend       Annual reports

Thursday 04 January, 2007


China Acquisitions

04 January 2007

4 January 2007

            SABMiller joint venture to acquire Blue Sword minorities

China Resources Snow Breweries Limited ('CR Snow'), SABMiller's joint venture in
China with China Resources Enterprise, Limited ('CRE'), has announced that it
has agreed to acquire a 38% equity interest in 14 breweries based in the Sichuan
province in South West China (together the 'Sichuan Breweries') for a total cash
consideration of US$320 million.  The remaining 62% equity interest in the
Sichuan Breweries is already owned by CR Snow.  As part of the transaction, CR
Snow will also acquire the rights to the 'Blue Sword' trademarks, as well as
acquiring a 100% equity interest in the Guizhou Waterfall Brewery Limited ('Blue
Sword Guizhou') in Guiyang City, which has installed capacity of 800,000

The transaction will be effected via the acquisition of a 100% interest in Blue
Sword (Group) Company Limited or 'Blue Sword Group', a holding company located
in the Shifang City in the Sichuan province. Prior to completion of the
transaction, various non-brewery related assets held by the Blue Sword Group
will be transferred out of the company. For the year ended 31 December 2005,
unaudited net profit attributable to the assets subject to the acquisition
amounted to US$12.4 million, up c. 40% on the previous year.

The Sichuan Breweries joint-venture was formed in October 2001 through a
strategic agreement between CRE Beverage Ltd (now named as China Resources Snow
Breweries Limited) and Blue Sword (Group) Company Limited, creating the leading
brewer in Sichuan. The brewing operations in the region at the time consisted of
12 plants with a further two breweries subsequently added.

Completion of the transaction is expected to take place in early 2007, following
satisfaction of pre-closing conditions.

Mr. Andre Parker, Managing Director of SABMiller Africa & Asia, said; 'This
acquisition further demonstrates CR Snow's commitment to invest in prominent
local brands which not only complements our national branding strategy, but
strengthens our leading positions throughout regional markets.'

Mr. Mark Chen, Managing Director of China Resources Enterprise, Limited said;

'We are very pleased that we can consolidate our brewery interests in Sichuan.
Sichuan is a major profit centre for CR Snow and its contribution has been
rapidly rising on expanding market share.  The acquisition will boost our
operational efficiency in the western and south-western regions and strengthen
our brand portfolio, underscoring our confidence for stronger returns in the
coming years.'

Sichuan province has a population of over 87 million inhabitants and is an area
where beer demand is already strong. The Sichuan Breweries achieved a market
share of c. 70% in the province last year and are well positioned to capitalise
further on increasing demand with additional capacity production facilities
planned. Distribution channels are also well established with an extensive sales
network that covers neighbouring regions such as Chongqing, Yunnan, Guizhou,
Tibet, Shaanxi and Gansu.

Guizhou is a mountainous province, bordered to the north by Sichuan and with a
relatively small population of 39 million people. Despite low current beer
consumption, there is clear opportunity for future growth, particularly through
improving access to the SNOW brand in the local market. At present, CR Snow does
not have a plant in the region, though production of SNOW at the Guizhou brewery
will commence on completion.

Annual production capacity at the Sichuan Breweries in 2005 was 14 million
hectolitres. Construction of additional capacity is currently underway and will
be completed in mid-2007, which will add a further 1.6 million hectolitres to
total capacity. The annual production capacity at the Guizhou brewery was
800,000 hectolitres over the same period.


Notes to editors:

About China Resources Snow Breweries Limited

China Resources Snow Breweries Limited was established in 1993 and became a
joint venture with SABMiller plc in 1994.  The company is engaged in the
production, sales and marketing of beer and beverages in China.  Its
shareholders are China Resources Enterprise, Limited and SABMiller Asia Limited,
a subsidiary of SABMiller plc.  China Resources Enterprise, Limited has a 51%
interest in China Resources Snow Breweries Limited while SABMiller Asia Limited
holds the remaining 49% interest.  It operates more than 40 breweries in the
Chinese Mainland with a total sales volume of about 39.5 million hectolitres in

About SABMiller plc

SABMiller plc is one of the world's largest brewers with brewing interests or
distribution agreements in over 60 countries across five continents. The group's
brands include premium international beers such as Miller Genuine Draft, Peroni
Nastro Azzurro and Pilsner Urquell, as well as an exceptional range of market
leading local brands.  Outside the USA, SABMiller plc is also one of the largest
bottlers of Coca-Cola products in the world.

In the year ended 31 March 2006, the group reported US$15,307 million in
revenues and profit before tax of US$2,453 million. SABMiller plc is listed on
the London and Johannesburg stock exchanges.

About China Resources Enterprise, Limited

China Resources Enterprise, Limited is listed on the Hong Kong Stock Exchange
and is also traded on SEAQ International of the London Stock Exchange.  It is
one of the constituent stocks of the Hang Seng Index in Hong Kong.  The Group
focuses on the consumer businesses in both the Chinese Mainland and Hong Kong,
with core activities being retail, beverage, food processing and distribution,
textile and property investment.

This announcement is available on


                 SABMiller plc                             Tel: +44 20 7659 0100

Sue Clark        Director of Corporate Affairs             Tel: +44 20 7659 0184

Gary Leibowitz   Senior Vice President, Investor Relations Tel: +44 20 7659 0119

Nigel Fairbrass  Head of Media Relations                   Tel: +44 20 7659 0105

This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire securities of SABMiller plc (the
'Company') or any of its affiliates in any jurisdiction or an inducement to
enter into investment activity.

This document includes 'forward-looking statements'.  These statements may
contain the words 'anticipate', 'believe', 'intend', 'estimate', 'expect' and
words of similar meaning.  All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company's financial position, business strategy, plans and
objectives of management for future operations (including development plans and
objectives relating to the Company's products and services) are forward-looking
statements.  These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual results,
performance or achievements of the Company to be materially different from
future results, performance or achievements expressed or implied by such
forward-looking statements.  These forward-looking statements are based on
numerous assumptions regarding the Company's present and future business
strategies and the environment in which the Company will operate in the future.
These forward-looking statements speak only as at the date of this announcement.
The Company expressly disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statements contained in this
announcement to reflect any change in the Company's expectations with regard
thereto or any change in events, conditions or circumstances on which any such
statement is based.

Any information contained in this announcement on the price at which the
Company's securities have been bought or sold in the past, or on the yield on
such securities, should not be relied upon as a guide to future performance.

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                              

a d v e r t i s e m e n t