UPDATE 1-Carlsberg says to own 30 pct of new China venture - ResearchInChina

Date:2011-08-10liuhongli  Text Size:

* Danish brewer forms joint venture to expand China business

* It will own 30 pct of new J/V with Chinese partners

* New company will operate 12 breweries in China (Adds details, quote, share price)

COPENHAGEN, Aug 1 (Reuters) - Danish brewer Carlsberg (CARLb.CO) said on Monday it would own 30 percent of a new joint venture to be formed by Carlsberg, its Chongqing Brewery unit and Chongqing Light Textile Holding to boost its China business.

Carlsberg became the biggest shareholder in Shanghai-listed Chongqing Brewery (CBC) in 2010 with a stake of nearly 30 percent and expressed interest in expanding the Chinese operations in cooperation with CBC's other main owner, Chongqing Light Textile Holding (CLT).

"CBC will own 51.42 percent of the joint venture, CLT 18.58 percent and the Carlsberg Group will own 30 percent," Carlsberg A/S said in a statement.

The venture, Chongqing Xinghui Investment Co., Ltd, will operate 12 breweries in China located in the provinces of Chongqing, Sichuan, Guangxi, Guizhou and Hunan, Carlsberg said.


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