CHINA: Tsingtao Brewery looks to strengthen Asahi Breweries bond - report
By just-drinks.com editorial team | 17 August 2010
 |
The purchase of a stake in Hangzhou Xihu would draw Tsingtao and Asahi ever closer |
Tsingtao Brewery is looking to buy a stake in Hangzhou Xihu Beer Asahi Co in China, according to local reports.
Tsingtao will buy Hangzhou Industrial Assets Management Co's 45% holding in Hangzhou Xihu for around CNY2bn (US$294m), The Economic Observer reported yesterday (16 August). The remaining 55% is owned by Japan's Asahi Breweries, which owns 20% of Tsingtao.
At the beginning of last year, Asahi become the second-biggest shareholder in Tsingtao when it bought a 20% stake in the Chinese brewer from Anheuser-Busch InBev for US$667m. Prior to this, Tsingtao bo ught into a joint venture – now known as Yantai Beer Tsingtao Asahi Co - owned by fellow Chinese brewer Yantai and Asahi in 2008.
No-one was immediately available at Asahi to comment on the story when contacted by just-drinks today (17 August).
Also yesterday, Tsingtao posted a healthy set of results for the first half of 2010.
Sectors: Beer & cider, Mergers & acquisitions
Companies: Tsingtao, Asahi, InBev
View next/previous articles
17 Aug 2010 -
Currently reading -
CHINA: Tsingtao Brewery looks to strengthen Asahi Breweries bond - report
17 Aug 2010 -
Related research
Datamonitor's Asahi Glass Co., Ltd. - SWOT Analysis company profile is the essential source for top-level company data and information. Asahi Glass Co., Ltd. - SWOT Analysis examines the company’s key business structure and operations, history and pr...
Datamonitor's Asahi Breweries, Ltd. - SWOT Analysis company profile is the essential source for top-level company data and information. Asahi Breweries, Ltd. - SWOT Analysis examines the company’s key business structure and operations, history and pr...
Beer,Cider and FABs Market in Japan - Product Launch Almanac 2010
Datamonitor’s Beer, Cider and FABs market in Japan – Product Launch Almanac 2010 provides a complete guide to new product launches in Japanese beer, cider and FABs market since January 2010, This report includes detailed data on products including Pa...
Related articles
JAPAN - Asahi Breweries FY profits rise, quells Foster's beer talk
Asahi Breweries has reported a solid rise in full-year profits, but the Japanese brewer's president has dampened speculation that the group will bid for Foster's Group's Australian beer arm.
INDIA: Tsingtao Brewery launches in India
The Chinese beer major, Tsingtao Brewery, has launched in the Indian market.
JAPAN: Sapporo Holdings lifts profits forecast
The smallest of Japan's 'big four' brewers, Sapporo Holdings, has said that its full-year net profits for 2010 will be 50% higher than originally forecast.
There are currently no comments on this article
Be the first to comment on this article