Carlsberg applied to raise stake in Chongqing Brewery …
Local-government-owned Chongqing Beer Group, which holds 32.25 percent of the Shanghai-listed brewer, wants to sell 59.29 million shares in the unit as part of a national government plan to shed listed assets, according to news agency reports. The stake is worth USD 274 million, based on current prices, it was reported.
For the fiscal year ended 31 December 2009, Chongqing Brewery ‘s total revenues increased 7 percent to RMB 2.26 billion (USD 330 million). Net income increased 11 percent to RMB 181.5 million (USD 27 million). The company employs about 2,500 people and produces the Shancheng 1958 series of products and Shancheng non-alcoholic beer.
Buying a stake in Chongqing Brewery would allow bidders to gain a share in the south-central Chinese beer market.
Chongqing is the nation’s biggest municipality in western China with 28.6 million residents, according to local government data. It is a manufacturing hub and important inland port on the Yangtze River.
China – market shares (%)
