News

CHINA: Carlsberg completes Chongqing stake buy

Most popular

Why brown spirits is behind low- & no-alc curve

Pernod is back in Kentucky, but why did it leave?

Anheuser-Busch InBev Performance Trends 2014-2018

How UK craft brewers are winning with Generation Z

Mainstream media is confusing spirits' consumer

MORE

Carlsberg has received the green light from China's Government to become the largest the shareholder in the country's Chongqing Brewery Co.

//i2.aroq.com/1/Carlsberg_logo.jpg

Carlsberg said last week that it has completed a deal to increase its stake in Chongqing from 17.5% to 29.7% for RMB2.4bn (US$363m), making it the largest shareholder in the brewer. The Denmark-based group has attained all the necessary regulatory approvals for the deal, which was originally announced in June, it said.

"The transaction is in-line with Carlsberg's strategy of strengthening our presence and building a platform for long-term growth in Asia," said Carlsberg's CEO, Jorgen Buhl Rasmussen.

He said that Carlsberg will work more closely with Chongqing's second biggest shareholder, Chongqing Beer Co, to develop the brewer's Shancheng beer brand. Shancheng is the leading beer brand in the markets in which Chongqing Brewery operates.
 
Chonqing Brewery produces 10m hectolitres of beer annually in 15 breweries and is the market leader in China's Chongqing province. It also operates in the surrounding provinces of Sichuan, Guizhou, Guangxi and Hunan and in the Eastern Chinese provinces of Anhui, Zhejiang and Jiangsu.


Related Content

Carlsberg and Heineken in Cambodia - What just-drinks thinks

Carlsberg and Heineken in Cambodia - What just-drinks thinks...

Carlsberg CEO puts faith in premium growth in China as volume losses set to continue - just-drinks Exclusive

Carlsberg CEO puts faith in premium growth in China as volume losses set to continue - just-drinks E...

Carlsberg Performance Trends 2014-2018 - results data

Carlsberg Performance Trends 2014-2018 - results data...

Asahi asset tidy continues with Tsingtao Brewery Co stake poised for offload

Asahi asset tidy continues with Tsingtao Brewery Co stake poised for offload...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?