DENMARK/CHINA: Carlsberg looks to up stake in Chongqing
Carlsberg is considering raising its stake in the brewery
Carlsberg is looking to increase its stake in Chongqing Brewery, its joint-venture partner in China.
In a filing yesterday (25 February), the Danish brewer said that a “potential” move to raise its share in the brewery is “under consideration”. Trading in Chongqing's shares has been suspended as a result of the possible transaction.
"Until the trading suspension expires, the companies are not able to provide further details," the filing said.
Carlsberg is Chongqing's biggest shareholder, with a 29.7% stake. The brewer inherited the holding when it teamed up with Heineken to acquire Scottish & Newcastle in 2008. It raised its share to the current level in 2010.
Carlsberg was forced to defend Chongqing's management early last year, after the company's shares were suspended from trading.
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