Sullivan & Cromwell, Freshfield Bruckhaus Deringer and Fangda Partners have represented Belgium-based AB InBev on its agreement to sell SABMiller’s 49 percent interest in the China Resources Snow Breweries JV to China Resources Beer Holdings for $1.6 billion.

The buyer was advised by a Davis Polk & Wardwell team led by  partners  Paul Chow and  Michael N. Sohn, and Zhong Lun Law Firm. The Sullivan & Cromwell team was led by Hong Kong based partner Michael G. DeSombre.

China Resources Snow Breweries was a joint venture formed by China Resources and SABMiller back in 1994. The deal, which gives it full ownership of the Snow beer brand, makes China Resources the largest brewer in China with a 30 percent market share.

The deal was widely anticipated but came sooner than expected for some. It is the latest in a series of divestments aimed at getting approval for SABMiller's $100 billion-plus takeover by AB InBev, the largest deal in consumer goods history.

The deal is subject to regulatory approval and is contingent on the closing of the AB InBev-SABMiller deal, which is expected later this year.