Carlsberg becomes largest shareholder of Chongqing Brewery

Source: China Knowledge

Dec. 28 2010 (China Knowledge) - Carlsberg Group, the world's fourth-largest brewer, yesterday said it has completed the acquisition of a 12.25% stake in China's Chongqing Brewery Co, becoming the largest shareholder of the Chinese beer maker, sources reported.

According to the report, the stake acquisition lifted Carlsberg's shareholdings in Chongqing Brewery to 29.71%.

Early this month, Chongqing Brewery said in a statement filed with the Shanghai Stock Exchange that China's Ministry of Commerce had approved the deal.

In Jun. 10, 2010, the Danish brewery said it would buy an additional 12.25% stake in the Chinese firm for about RMB 2.39 billion. The average price for the transaction was RMB 40.22 per share.

Chongqing Brewery operates 15 nationwide breweries and ranks as a top-six domestic producer based on yearly output.

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