The Carlsberg Group has announced its intention to take full control of Chinese brewer Wusu Beer Group, as part of an asset swap with Xinjiang Hops.
Carlsberg will dispose of its 30% stake in Xinjiang Hops in exchange for the hops producer’s 50% stake in Wusu Beer Group, which was previously a joint venture between the two companies. Carlsberg will acquire the Chinese beermaker’s six breweries in Xinjiang, northwestern China, which have a combined annual production capacity of approximately 6m hectolitres.
The conditional acquisition is expected to be finalised before the end of the year, with Carslberg receiving a net cash proceed of roughly DKK 200m ($28m) upon completion.
© FoodBev Media Ltd 2019