China Resources (Holdings) will pay HKD28 billion to buy all of the non-beer businesses of Hong Kong-listed China Resources Enterprise (CRE) to dispose of the latter’s risks and improve share price performance. Bank of America Merrill Lynch and Morgan Stanley will buy up to 242 million shares, or 10% of China Resources Enterprise’s issued share capital. The deal will reduce the public floatation of the company to 38% from 48% currently.