Beer Beverage

A joint venture (JV) agreement has been signed between China Haisheng Juice Holdings, and Distell International Holdings Limited to set up a new company called Anhui Dangshan Distell Haisheng, with a registered capital of CNY100m ($14.1m).

Under the terms of the agreement, Distell and Haisheng will contribute CNY51m ($7.7m) and CNY49m ($7.4m) respectively towards the registered capital. China Haisheng and Distell International will hold 49% and 51% stake respectively in the JV.

US-based beer and beverage products seller Molson Coors Brewing Company has priced public placement of $884.27m aggregate principal amounts of senior notes due 2024, $1bn-worth senior notes due 2022, $2bn worth senior notes due 2026, $500m-worth notes due 2019, and $1.8bn-worth senior notes due 2046.

The annual interest rates on the offerings are 1.25%, 2.10%, 3%, 1.45%, and 4.20% respectively.

The deals, which are expected to be completed by July this year, will have Merrill Lynch International, Citigroup Global Markets, UBS, Bank of Montreal London Branch, Mitsubishi UFJ Securities International, RBC Europe, and Wells Fargo Securities International as joint book-running managers.

The proceeds from these deals will be used by the company for future acquisitions, investments, funds, and other monetary transactions.

Image: Molson Coors Brewing Company is a US-based beer and beverage products seller. Photo: Courtesy of Paul Joseph.