Carlsberg Asia increases shareholding in Hite Brewery
Carlsberg Asia Ltd. acquired 8.4 per cent of the share capital in Hite Brewery Co. Ltd. for approx. US$ 68 million, thus increasing its shareholding in the major South Korean brewer. According to a company statement, the acquisition strengthens both Carlsberg Asia’s position as one of Asia’s largest brewery groups and the co-operation with the Park family. The Park family has controlled the company since it was founded in 1933.
The total control of the Hite share capital is now just above 25 per cent. As of January 2002, Hite will be consolidated as an associated company. The acquisition is part of Carlsberg Breweries’ strategy to strengthen its position in Asia through the joint venture company Carlsberg Asia. Its three breweries had a beer output of approx. 9.5 million hl in 2001..
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