Date
21 October 2017

Carlsberg tightens hold on Chongqing beer group, Bloomberg says

Danish brewer Carlsberg said on Monday that Chongqing Beer Group Co. has accepted the former’s 1.56 billion yuan (US$257 million) offer for eight Chinese breweries, Bloomberg News reported. Carlsberg will buy 100 percent of Chongqing Beer Group Assets Management Co., a Chongqing-based firm that owns breweries in Jiangsu, Anhui and Zhejiang provinces, with capacity of about 12 million hectoliters, the report said, citing a statement from the Danish company. The deal comes less than a month after Carlsberg paid about 2.9 billion yuan to increase its stake in Shanghai-listed Chongqing Brewery Co. (600132.CN) to about 60 percent from 29.7 percent, the report noted.

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