Yanjing to sell 20% holdings to strategic foreign investors

China's third-largest beermaker, Beijing Yanjing Brewery Corporation, is planning to sell about a 20 percent stake to a foreign partner.

Based on its current share price, the stake could be valued at about 700 million US dollars.

The deal is expected to give Yanjing access to foreign technology to counter slowing sales in this country.

Yanjing is currently the third-largest beermaker in China and the only major brewer without an overseas partner.

The company is controlled by Hong Kong-listed Beijing Enterprises Holdings, whose largest shareholder is an investment arm of the Beijing municipal government.

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