CHINA: SABMiller eyes Carlsberg's Chongqing Brewery - report
Could SABMiller be looking at Chongqing Brewery, where Carlsberg already has a slice?
SABMiller is reportedly looking to acquire a stake in Chongqing Brewery, despite global rival Carlsberg already having a holding in the Chinese brewer, according to reports.
Citing unnamed sources, the Economic Observer said late last week that SABMiller is set to bid for a 12.25% share in Chongqing.
Last Wednesday (14 April), Chongqing's largest shareholder, Chongqing Beer (Group) Co, was reported to be considering divesting the 12.25% holding through an open bidding process. Interested parties have ten days from the serving of notice to register their interest.
No-one was available for comment at SABMiller when contacted by just-drinks yesterday (19 April).
Carlsberg inherited its stake in 2008, when it teamed up with Heineken to buy Scottish & Newcastle.
Earlier today, SABMiller posted flat volumes in its latest financial year, despite a 10% increase in lager volumes in China.
Diageo has declined to comment on reports that its East African Breweries unit is close to selling a stake in SABMiller subsidiary Tanzania Breweries....
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