News

CHINA: Tsingtao Brewery takes stake in Yantai, Asahi venture

Most popular

Beverage companies set for tough pricing desicions

Campari faces familiar troubles - analysis

The 'metaverse' opportunity for beverage brands

Sustainability and responsibility activations

The soft drinks opportunity from on-premise return

MORE

Tsingtao Brewery has bought a 39% stake in the joint venture owned by fellow Chinese brewer Yantai and Japanese brewer Asahi.

Tsingtao has bought 37% of the venture's shares from Asahi and 2% from Yantai, according to a statement distributed by Yantai in China this week and seen by just-drinks.

Financial details of the deal were not disclosed.

The move will see the venture renamed as Yantai Beer Tsingtao Asahi Co. Tsingtao will have the second largest stake, while Asahi will take 51% of the business and Yantai the remaining 10%, according to the statement.

More than 100 people attended a special signing ceremony earlier this week, involving Yantai chairman Qu Jiguang, Tsingtao beer president Sun Mingbo and Asahi president and CEO Kouichi Ikeda.

Tsingtao, which takes its name from its home city of Quingdao, is 27%-owned by US brewer Anheuser-Busch, itself set to be fully acquired by Belgian brewer InBev.


Related Content

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

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

Anheuser-Busch InBev signs up Kirin brands for same-day craft beer delivery venture - just-drinks thinks

Anheuser-Busch InBev signs up Kirin brands for same-day craft beer delivery venture - just-drinks th...

Asahi to combine European units as coronavirus hits Q2 sales

Asahi to combine European units as coronavirus hits Q2 sales ...

Molson Coors joins London M&A spree with Hop Stuff Brewery and Taprooms buy

Molson Coors joins London M&A spree with Hop Stuff Brewery and Taprooms buy...

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?