MALAYSIA: Carlsberg gets green light for Asian joint venture
A Malaysian stock exchange ruling has allowed Carlsberg Breweries to move forward with its joint venture Carlsberg Asia with Chang Beverages.
The Malaysian stock exchange has ruled that Carlsberg Asia is not obliged to offer to buy the remaining shares of the 50% of Carlsberg Brewery Malaysia Berhad which it does not hold.
Carlsberg Brewery Malaysia is a 50-percent owned subsidiary of Carlsberg Asia, and according to bourse rules in Malaysia, if a company holds 50 percent or more of another company, it must make a public offer for the whole of the company.
The establishment of the joint venture Carlsberg Asia was dependent on not making a bid for all of Carlsberg Brewery Malaysia.
In a brief statement Carlsberg said: "Carlsberg Asia is now established and therefore Carlsberg will consolidate Carlsberg Asia pro rata (50 per cent) as of 1 January."
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