Denmark-based Carlsberg Group has decided to acquire additional 30.29% shares in Chongqing Brewery Company in China.
At RMB 20 per share, the total purchase price for the additional 30.29% stake in CBC will be around RMB 2.9bn ($461.49m).
The Carlsberg Group is today the largest shareholder in CBC with a current shareholding of 29.7%.
Upon the successful completion of the partial take-over offer, Carlsberg will have control over CBC and potentially up to 60% of the shares in CBC.
The transaction will enable Carlsberg, as the controlling shareholder of CBC, to directly manage the company, drive greater synergies and leverage the expanded production footprint across several new provinces in China.
Carlsberg's president and CEO Jrgen Buhl Rasmussen 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."
