News

CHINA: S&N buys into Chongqing brewery - report

Most popular

What are Diageo's priorities for the years ahead?

Diageo Performance Trends 2014-2018 - results data

What can the spirits industry learn from Diageo?

As Irish whiskey comes of age, so do its problems

MORE

Scottish & Newcastle is attempting to break into China. The brewing group is reported to have signed an agreement to buy a 19.51% stake in China's Chongqing brewery for RMB525m (US$63m).

Chongqing Brewery (Group) Ltd, the brewery's parent company will maintain its majority holding despite selling the shares to S&N. It will still hold a 34.55% stake.

The deal comes after 10 years of negotiations between the two companies. The agreement is still subject to approval by the state-owned Assets Supervision and Administration Commission and the Ministry of Commerce.

Chongqing is China's eighth largest brewer and has seen revenues rise by 27% to RMB395m in the first half of 2003 compared to the same period last year.


Sectors: Beer & cider

Companies: Scottish & Newcastle

Related Content

Using Big Data to create smart shops - the future of retail in China - analysis

Using Big Data to create smart shops - the future of retail in China - analysis...

"Success in China is about being constantly visible" - just-drinks meets Stuart Barclay, GM of marke...

Global trade war comes to drinks next week, China, US confirm tariff hikes

Global trade war comes to drinks next week, China, US confirm tariff hikes...

Is Heineken risking too much to chase Anheuser-Busch InBev in China? - Comment

Is Heineken risking too much to chase Anheuser-Busch InBev in China? - Comment...

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?