Could SABMiller be looking at Chongqing Brewery, where Carlsberg already has a slice?

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.