Carlsberg has raised its stake in China's Chongqing Brewery Co to almost 30%.
//i2.aroq.com/1/Carlsberg_logo.jpgCarlsberg said today (10 June) that it has bought a further 12.25% share of Chongqing Brewery Co (CBC) for RMB2.4bn (US$351m).
If approved by authorities and CBC minority shareholders, the deal will take the Denmark-based brewer's total stake to 29.71%.
CBC operates 15 breweries and is the market leader in China's Chongqing province, although it also operates in the surrounding provinces of Sichuan, Guizhou, Guangxi and Hunan and in the Eastern Chinese provinces of Anhui, Zhejiang and Jiangsu.
The group had volumes of 10m hectolitres in 2009.
Carlsberg inherited its initial stake in CBC in 2008, when it teamed up with Heineken to buy Scottish & Newcastle.
Nomura International advised Carlsberg on the deal.
