Friday, August 29, 2014   

Carlsberg widens footprint with Chongqing Beer deal
(12-30 19:21)

Danish brewer Carlsberg said it had bought the owner of eight Chinese breweries for 1.4 billion kroner (188 million euros) as it continues to grow outside western Europe.
“Chongqing Beer Group has informed the Carlsberg Group that it has accepted Carlsberg's offer to acquire 100 percent of Chongqing Beer Group Assets Management,'' the Danish company said in a statement.
The Chinese company primarily sells brands under license from the Chongqing Brewery Company, in which Carlsberg earlier this month raised its holding to 60 percent from 29.7 percent.
The Danish group paid 2.6 billion kroner to raise its stake in the company, which produces its two leading brands, Carlsberg and Tuborg.
“This transaction, following on from our decision to construct two new breweries in China and Myanmar, further reinforces our commitment to Asia, and in particular to China,'' chief executive Joergen Buhl Rasmussen said on December 11.
Along with its three bigger rivals AB InBev, SABMiller and Heineken, Carlsberg has been expanding in the fast-growing Asian market.—AFP

   
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