Carls­berg buys Chongqing Beer Group for $258m

China Daily (Hong Kong) - - BUSINESS DIGEST -

Dan­ish brewer Carls­berg said on Mon­day it had bought the owner of eight Chi­nese brew­eries for 1.4 bil­lion kro­ner ($258 mil­lion) as it con­tin­ues to grow out­side the slug­gish mar­kets of 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 firm pri­mar­ily sells brands un­der li­cense from the Chongqing Brew­ery Co, in which Carls­berg ear­lier this month raised its hold­ing to 60 per­cent from 29.7 per­cent.

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