Carlsberg lifts stake in brewer to 30%
Source: Agencies |
June 11, 2010, Friday
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Print Edition
Print Edition
DANISH brewer Carlsberg has agreed to raise its stake in China's Chongqing Brewery Co to nearly 30 percent for about 2.1 billion crowns (US$380 million) to further its Asian expansion.
Carlsberg, the world's fourth-biggest brewer, yesterday said it would increase its stake in Chongqing Brewery to 29.71 percent from 17.46 percent.
The purchase price for the 12.25 percent stake is 40.22 yuan per share, or about 2.39 billion yuan (US$350 million), Carlsberg said.
The deal is conditional on a number of steps and approvals by authorities and minority shareholders, it said.
"This is a natural extension of our growth strategy that we have voiced in the past couple of years that acquisitions will happen in Asia and particularly in China and Indochina," CFO Jorn Jensen said.
Jensen said the purchase was strategically important to Carlsberg.
Carlsberg, the world's fourth-biggest brewer, yesterday said it would increase its stake in Chongqing Brewery to 29.71 percent from 17.46 percent.
The purchase price for the 12.25 percent stake is 40.22 yuan per share, or about 2.39 billion yuan (US$350 million), Carlsberg said.
The deal is conditional on a number of steps and approvals by authorities and minority shareholders, it said.
"This is a natural extension of our growth strategy that we have voiced in the past couple of years that acquisitions will happen in Asia and particularly in China and Indochina," CFO Jorn Jensen said.
Jensen said the purchase was strategically important to Carlsberg.
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