Carlsberg has entered into a conditional agreement to increase its shareholding in Chongqing Brewery Co. Ltd ("CBC") from 17.46% to 29.71%.
The purchase price for the 12.25% stake in CBC is RMB 40.22 per share or approximately RMB 2,385m (approximately DKK 2.1bn) in total.
The transaction is conditional upon a number of steps and approvals by authorities and minority shareholders.
CBC operates 15 breweries in China. CBC is market leader in the Chongqing province and operates in the surrounding provinces of Sichuan, Guizhou, Guangxi and Hunan and in the eastern Chinese provinces of Anhui, Zhejiang and Jiangsu. In 2009 CBC's Chinese volumes were approximately 10m hl.
Nomura International plc is acting as financial advisor to Carlsberg.
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