S KOREA: Hite gets conditional Jinro go-ahead
Hite Brewery Co. has been granted regulatory approval by the Korea Fair Trade Commission (FTC) for its acquisition of Korean spirits company Jinro.
The FTC, however, has imposed some conditions on the purchase.
Hite and Jinro must keep future price increases below consumer inflation and retain separate sales and marketing departments. The two companies must also make twice-yearly shipment reports to authorities.
The FTC has also asked the two companies to submit plans on how they will avoid abusing their leading market position. Hite controls around 58% of the beer market, while Jinro has around 55% of the market for the national spirit, Soju.
Hite, which is 25%-owned by Carlsberg, is leading a consortium which signed a definitive contract to acquire Jinro for KRW3.4 trillion (US$3.25bn) early last month.
Carlsberg has finally hooked up with a state-owned Vietnamese brewer....
Carlsberg has entered into negotiations with the IBM Group regarding a possible outsourcing of the Danish brewer's IT services in Europe....
Carlsberg's rating has been lowered following its disappointing Q1 figures earlier this week....
Carlsberg said today that global beer volume showed a 20% increase in the first quarter of the year driven by strong organic growth in BBH as well as a considerable contribution from acquisitions, inc...
Carlsberg has appointed a managing director for its Chinese operations....
Carlsberg has increased its ownership in Carlsberg Brewery Malaysia Berhad from 49.66% to 51%. The investment amounts to approximately US$6m....
Dutch brewer Heineken is rumored to have released a self-chilling beer can....
The Bosnian government has put a majority stake in the country's brewery Banjalucka Pivara up for sale. Previous efforts to privatise the brewer have failed....
- Diageo's Q4/FY 2016 results - Preview
- Diageo's FY performance by region - Focus
- Wine consumption and its health effects
- Time to take stock of Constellation's Corona
- The future for drinks industry's waste products
- Diageo sets sights on alcohol-alternative trends
- SABMiller puts brakes on A-B InBev integration
- "We tried to make Bushmills hot" - Diageo CEO
- Diageo names new TR head as Doug Bagley exits
- Brexit "not a big deal" for Scotch - Diageo CEO
- Global RTD insights - market forecasts, product innovation and consumer trends
- Adultifying Soft Drinks; Capitalizing on rising adult demand for non-alcoholic beverages
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends