Carlsberg ups stake in China and takes full control of Baltika

The Carlsberg Group, on 14 November 2012, signed an agreement to acquire a further 18.58 percent shareholding in Chongqing Jianiang Brewery, taking its total shareholding to 49.58 percent. The purchase price is approximately RMB 600 million (USD 96 million).

Carlsberg inherited its initial stake in Chongqing Brewery through its takeover of UK's Scottish and Newcastle and boosted its stake in the Chinese company in 2010, outbidding both AB-InBev and the Chinese venture of SABMiller, to become its biggest shareholder.

Chongqing operates 15 breweries in central China with operations in the surrounding provinces of Sichuan, Guizhou, Guangxi and Hunan and in the eastern Chinese provinces of Anhui, Zhejiang and Jiangsu. Among China's domestic breweries, it ranks sixth, it was reported.

The transaction is subject to government approvals.

On 29 November 2012, Carlsberg announced that, following the completion of the compulsory redemption of the remaining outstanding shares in Baltika Breweries, the Carlsberg Group has increased its ownership in Baltika Breweries to 100 percent. Baltika is Russia's major brewer.