Danish brewer Carlsberg Group has received approval from Chinese regulators to increase its stake in China’s Chongqing Brewery to 60%.

According to Chongqing Brewery’s statement, the 20-yuan per share take-over bid is effective from 5 November 5 to 4 December. Carlsberg will invest up to 2.9 billion yuan (£298 million) to take 30.29% of Chongqing Brewery’s shares.

Carlsberg Chongqing, together with Carlsberg Hong Kong currently hold a 29.71% stake in Chongqing Brewery before this additional acquisition. A Carlsberg spokesman said its offer now has to go through a tender process.

View Full News Article at Source (The Drinks Business)