Tsingtao Brewery to Buy 39% of Yantai Beer Asahi
Tsingtao Brewery to Buy 39% of Yantai Beer Asahi
| Tsingtao Brewery to Buy 39% of Yantai Beer Asahi |
| Tsingtao Brewery Co. Limited plans to acquire a 39 percent stake in Sino-Japanese beer joint venture Yantai Beer Asahi, announced the Shanghai-listed beer brewer on Nov. 9. In detail, Tsingtao Brewery will respectively buy 2 percent and 37 percent holdings from Japan-based Asahi Breweries Itochu (Holdings) Ltd. and Yantai Beer Group Co., Ltd., two founders of the venture, according to agreements reached by the buyer and sellers previously. After the acquisition, Asahi Breweries will have a 51 percent stake in the venture; and the Yantai company, 10%. The venture, whose technology and equipment will be upgraded in the future, will produce beer under the sparkling brands of Tsingtao and Yantai after the transaction. And Tsingtao Brewery will be responsible for the distribution of the branded products. The acquisition, according to Tsingtao Brewery President Sun Mingbo, is part of the Shanghai-listed beer maker's efforts to strengthen its predominance in Shandong Province, one of its most critical markets in China. |
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