Carlsberg strengthens footprint in west
By Jin Jing |
January 23, 2010, Saturday
|
Print Edition
Print Edition
CARLSBERG A/S has finally won approval from China's Ministry of Commerce to raise its shares in the parent of a smaller Chinese beer maker to nearly 90 percent, helping further strengthen its footprint in west China.
The Denmark beer giant can now take an additional 41 percent stake in Xinjiang Blue Sword Brewing Investment Co, parent of Shanghai-listed Xinjiang Hops Co.
Blue Sword Brewing Investment is a joint venture between Carlsberg and Blue Sword Lanjian (Group) Co formed in 2005, in which Carlsberg holds a 48.93 percent stake.
The stake transfer agreement was signed in April last year but the deal has been postponed four times on concern over Carlsberg's possible monopoly in the beer market in west China.
"Carlsberg already has a strong presence in the beer market in west China, and the move would make it the king of the region," said Huang Mao from Guosen Securities Co.
Other analysts said the deal would not make a huge impact on China's overall beer market.
Carlsberg has focused its development in the west through acquisition and local ventures with total investment of more than 1 billion yuan (US$146 million).
Investment in west China accounted for about 50 percent of its overall spending in China, enabling it to take 56 percent of market share in the area's five provinces, according to 21st Business Herald.
Carlsberg has more than 20 beer plants in China, including ventures with Lanzhou Huanghe Enterprise Co and Tibet Galaxy Science and Technology Development Co.
The Denmark beer giant can now take an additional 41 percent stake in Xinjiang Blue Sword Brewing Investment Co, parent of Shanghai-listed Xinjiang Hops Co.
Blue Sword Brewing Investment is a joint venture between Carlsberg and Blue Sword Lanjian (Group) Co formed in 2005, in which Carlsberg holds a 48.93 percent stake.
The stake transfer agreement was signed in April last year but the deal has been postponed four times on concern over Carlsberg's possible monopoly in the beer market in west China.
"Carlsberg already has a strong presence in the beer market in west China, and the move would make it the king of the region," said Huang Mao from Guosen Securities Co.
Other analysts said the deal would not make a huge impact on China's overall beer market.
Carlsberg has focused its development in the west through acquisition and local ventures with total investment of more than 1 billion yuan (US$146 million).
Investment in west China accounted for about 50 percent of its overall spending in China, enabling it to take 56 percent of market share in the area's five provinces, according to 21st Business Herald.
Carlsberg has more than 20 beer plants in China, including ventures with Lanzhou Huanghe Enterprise Co and Tibet Galaxy Science and Technology Development Co.
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