CHINA: Chongqing "closely monitors" S&N takeover - report
The Chinese brewer was cited in local reports today (29 January) as saying that it will closely observe the situation, which could see Carlsberg take full ownership of S&N's French, Greek, Chinese and Vietnamese operations.
The transaction, which values S&N at around GBP7.8bn (US$15.2bn), could mean changes in control for the fourth largest Chinese brewer, due to S&N holding a 17.46% stake in the company.
In October, Chongqing posted a 45% leap in net profit for the first half of last year. The company made CNY75.5m with beer volumes rising by 14% from a year earlier to 4.9m hectolitres. Core sales were up by 11% in value terms to CNY947m.
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