Carlsberg announced the move last year

Carlsberg announced the move last year

Carlsberg has completed its takeover of Chongqing Beer Group's remaining brewing interests in China.

The Danish brewer today said that following the regulatory process, the acquisition of 100% of Chongqing Beer Group Assets Management Co is now final. The transaction, which was first announced in December last year, sees Carlsberg take over eight breweries and one malting plant.

The deal was initially valued at RMB1.56bn (US$253m). 

The breweries, located in the eastern provinces of Jiangsu, Anhui and Zhejiang, have a combined annual capacity of about 12m hectolitres. 

As part of the deal, Carlsberg has acquired Chongqing Beer Group's 20% stake in Chongqing Brewery. Carlsberg now owns 60% of Chongqing Brewery, a move that was approved by Chinese authorities in November last year.