China: Chongqing Beer to be acquired by Carlsberg Group
The Carlsberg Group has recently announced that Chongqing Beer (Group) Co. Ltd of China has accepted its offer to acquire 100% of Chongqing Beer Group Assets Management Co. Ltd, which is a holding company headquartered in Chongqing, China.
With a total of eight breweries located in three provinces (3 in Jiangsu, 3 in Anhui, and 2 in Zhejiang), the company's capacity comprises approximately 12m hl. The breweries primarily sell products in-licensed from Chongqing Brewery Company Co. Ltd (CBC) as well as the brand Tianmuhu.
The total purchase price for the Group will be RMB 1.56bn (approximately DKK 1.4bn), with the deal subject to the usual regulatory approval process.