Carlsberg launches takeover offer for Chongqing brewer

City A.M. Reporter
CARLSBERG has launched a partial takeover bid worth 2.65bn Danish crowns (£306.63m) for 30.31 per cent of the shares in Chongqing Brewery Company (CBC), the Danish brewer said yesterday.

If the bid of 20 yuan per share is successful, Carlsberg, which announced plans to up its stake in the Chinese brewery last week, will gain control of CBC and potentially own up to 60 per cent of the shares.

The second largest shareholder in CBC, Chongqing Beer, has committed to selling its shares with the aim of disposing of its remaining 20 per cent stake in CBC, Carlsberg said.

“Our Asian business is very important for our long-term growth strategy and we are very pleased that we now can take this important step forward in China” CEO Jorgen Buhl Rasmussen said.