Tsingtao Brewery 823 million acquisition of the stake in the joint venture company Suntory

Updated: October 20, 2015  Views: 59

Tsingtao Brewery (60,060,019 announcement, intends to 823 million yuan acquisition of Suntory (China Investment Co., Ltd. held by Suntory Tsingtao Brewery (Shanghai and Tsingtao Brewery Co., Suntory (each 50% stake in Shanghai Sales Co., Ltd. After the completion of the transaction, the two companies will become a wholly owned subsidiary of Tsingtao beer.

Tsingtao Brewery acquisition were founded in 2013. At that time, the two sides to enhance the market competitiveness of products, beer, Tsingtao and Suntory Chinese assets between the two sides in beer production, sales of assets and business of Shanghai and Jiangsu provinces in the art restructuring, and through equity financing, cash contribution, etc., jointly set up two joint venture companies. Tsingtao and Suntory China were holding career and sales of the joint venture 50% stake in the joint venture.

Shanghai and Jiangsu region as an important market Tsingtao Brewery, Tsingtao Brewery, said the cause of the joint venture and the sale of a joint venture for the company's subsidiaries are an important production and management entities, after the completion of this transaction, the two companies will become wholly-owned Tsingtao subsidiaries, can eliminate the continuing connected transactions between the two companies had the same time, Tsingtao Brewery will further enhance the integration of operational capability, synergy.

According to the announcement, in accordance with the provisions of relevant laws and regulations and normative documents, the acquisition is still subject to the Ministry of Commerce focused on the review of the approval of the operators. (Wangzi Chen

www.get-top-news.com Get Top News, Latest News and Current News from get-top-news.com. Latest Current News: U.S., China, World, Entertainment, Health, Finance, Business, echnology, Travel, Politics, Sports.