Carlsberg International is to sell part of its 50% share in its Tibetan joint venture. Tibet Galaxy Science & Technology Development Co. Ltd said yesterday (22 December) that a Denmark-based fund has agreed to take a 17% stake in its 50-50 brewery joint venture with Carlsberg.

The Industrialisation Fund for Developing Countries (IFDC) will buy the stake in Tibet Lhasa Brewery Co from Carlsberg, Tibet Galaxy said in a statement filed with the Shenzhen Stock Exchange.

Financial details were not disclosed.

Tibet Galaxy will be the largest shareholder of Tibet Lhasa Brewery after the transaction is completed, with Carlsberg and IFDC holding 33% and 17% respectively.