|Day's Range||20.250 - 20.900|
|52 Week Range||14.460 - 21.200|
|PE Ratio (TTM)||83.85|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||20.16|
In creating the world’s biggest beer company, Anheuser-Busch InBev NV may need to let go of the planet’s best-selling beer: China’s Snow.
China Resources Holdings Co., the conglomerate that controls the nation’s most popular beer brand, is joining the bidding for Hong Kong lender Nanyang Commercial Bank Ltd., people with knowledge of the matter said. China Resources, which bankrolled Nanyang’s founding more than half a century ago, is among suitors weighing binding offers for the lender by next month’s deadline, according to the people. It is vying with bad-loan manager China Cinda Asset Management Co., which is also considering a bid, the people said, asking not to be identified as the information is private.
China Resources Enterprise Ltd. said it will get HK$2 billion ($258 million) more than initially agreed from selling assets to its parent, allowing it to increase a special dividend. The assets, which include its money-losing retail venture with Tesco Plc, will be sold for HK$30 billion, the company said in a statement Thursday to the city’s stock exchange. China Resources Enterprise also said its parent will provide a loan of as much as HK$10 billion for a duration of not more than three years.