Belgian brewer Interbrew announced that it was acquiring 70 per cent of the Zhejiang based KK Brewery for US$42m. KK holds 80 per cent of the market in the city of Ningbo. This move consolidates Interbrew's position in the Yangtze delta region, following the company's purchase of an 80 per cent interest in Nanjing Brewery in 1997. Earlier this year it acquired a 24 per cent stake in Zhujiang Brewery in Guangzhou.