Plateau Consumer to acquire a 40% stake in China Resources Kirin Beverages from Kirin for $994m.

Plateau Consumer, a Chinese fund, agreed to acquire a 40% stake in China Resources Kirin Beverages, a soft drinks joint venture, from Kirin, a producer of beer, soft drinks, food products, whisky, and pharmaceuticals, for $994m. The joint venture, established in 2011, had been expanding its business in China, making bottled water and bottled tea. Kirin said the move was part of its recent decision to review its investment portfolio, including foreign operations, under a management plan that runs through 2024. The plan has the company focusing on certain areas, including pharmaceuticals and health science as well as food and beverages.