Carlsberg Completes Acquisition of Chongqing Brewery Co. Ltd
Following the completion of the transaction, the parties will continue to work together to explore opportunities for increased cooperation.
12/28/2010 --- On 10 June 2010, the Carlsberg Group announced that it had agreed, subject to certain conditions, to increase its shareholding in Chongqing Brewery Co. Ltd from 17.46% to 29.71%, thereby becoming the largest shareholder in Chongqing Brewery Co. Ltd. The transaction has now been completed, as the Carlsberg Group has been through all the necessary steps and received all the required approvals.
Since 2008, Carlsberg has established a constructive relationship with both Chongqing Brewery Co. Ltd and its main shareholder, Chongqing Beer (Group) Co. Ltd. Following the completion of the transaction, the parties will continue to work together to explore opportunities for increased cooperation, including further sharing of best practices and the development of Shancheng, which is the leading brand in the markets in which Chongqing Brewery operates.
CEO Jørgen Buhl Rasmussen comments, "We are very pleased with the cooperation we have had with Chongqing Brewery and its main shareholder since 2008. We have been actively involved with Chongqing Brewery and are very excited about the possibilities for further development arising from the transaction. The transaction is in line with Carlsberg's strategy of strengthening our presence and building a platform for long-term growth in Asia".
