Carlsberg Hong Kong in $461m Chongqing Brewery bid
Chongqing Brewery Co Ltd, one of China's largest beer makers, said on Monday that Carlsberg Brewery Hong Kong Ltd has launched a partial takeover bid valued at 2.65 billion Danish krone ($461.49 million) for 30.31 percent of the company.
If the bid, which is offering 20 yuan ($3.21) per share, is successful, the Danish brewer will gain up to 60 percent of the shares.
As the wholly owned subsidiary of Danish premium brewer Carlsberg Group, Carlsberg Hong Kong increased its stake in Chongqing Brewery to 29.71 percent in 2010, becoming the company's largest shareholder.
Industry experts say Asia has become the main battleground for the world's biggest brewers. The region accounted for 18 percent of Carlsberg's sales volume in 2011 and 12 percent of its operating profit.
