US brewer sells UK site for £25m

US drinks giant Coors has sold a former brewery site in Birmingham, England, for £25m (€38m).

The transaction is part of the Colorado-based company’s efforts to convert to non-core assets to repay debt.

The 80-acre site that once was part of the Cape Hill brewery was sold to British developer Persimmon.

Coors ceased operations at Cape Hill in 2002.