DENMARK/CHINA: Carlsberg edges to Chongqing Brewery Co completion
By: just-drinks.com editorial team | 29 July 2010
 |
Carlsberg gets worker support for Chongqing Brewery deal |
Carlsberg has moved a step closer to taking a 30% stake in China's Chongqing Brewery, after the deal was endorsed by the firm's workers' committee.
Employee representatives have this week backed Carlsberg in its agreement to acquire a further 12.25% share of Chongqing Brewery Co (CBC) for RMB2.4bn (US$351m).
The endorsement follows official support from CBC's minority shareholders, who voted for the deal at a meeting on 5 July, a Carlsberg spokesperson told just-drinks today (29 July).
However, the deal, which was announced in June and will increase Carlsberg's ownership of CBC to 29.71%, still needs the approval of regulatory authorities in China.
Carlsberg said it could not provide an estimate on when the process will be complete.
CBC operates 15 breweries and is the market leader in China's Chongqing province. Carlsberg inherited an interest in the brewer following its share of the takeover of Scottish & Newcastle in 2008.
For a more in-depth look at Carlsberg's growing presence in Asia, click here.
Sectors: Beer & cider, Emerging markets – BRIC, Mergers & acquisitions
Companies: Carlsberg
View next/previous articles
Currently reading -
DENMARK/CHINA: Carlsberg edges to Chongqing Brewery Co completion
29 Jul 2010 -
29 Jul 2010 -
Related research
Datamonitor's Carlsberg A/S - SWOT Analysis company profile is the essential source for top-level company data and information. Carlsberg A/S - SWOT Analysis examines the company’s key business structure and operations, history and products, and prov...
Euromonitor International's Carlsberg A/S Company Profile offers detailed strategic analysis of the company’s business, examining its performance in the beer market. The report provides a strategic evaluation of the company, examines company shares ...
Multinational Food & Drink Companies in Asia Pacific Directory 2008
The Asia Pacific Food and Drink Companies Directory and CD-Rom 2008 is a researched company database of food and drink companies in Asia Pacific: a powerful database for food and drink competitor analysis, market assessment and marketing, sales and ...
Related articles
RUSSIA: Russian Gov't extends wheat export ban - report
Russia's prime minister, Vladimir Putin, has reportedly extended the country's ban on wheat exports in a move that could put further strain on supplies for drinks firms.
SWITZERLAND: Carlsberg to close Swiss brewery
Carlsberg is to close one of its two breweries in Switzerland as part of the group's ongoing consolidation of beer operations in Western Europe.
There are currently no comments on this article
Be the first to comment on this article