Carlsberg further expands into China with JV
September 03, 2011 | BY
clpstaff &clp articlesCarlsberg Group (Carlsberg) has formed a joint venture with Chongqing Brewery and Chongqing Light Textile Holdings (CLT). The joint venture will be called…
Carlsberg Group (Carlsberg) has formed a joint venture with Chongqing Brewery and Chongqing Light Textile Holdings (CLT). The joint venture will be called Chongqing Xinghui Investment (CXI). Chongqing Brewery will own 51.2%, Carlsberg will own 30% and CLT will own 18.58%.
The joint venture parties intend that CXI will operate 12 breweries across China, including in Chongqing municipality, Sichuan, Guangxi, Guizhou and Hunan provinces. Carlsberg will make a cash contribution of approximately Rmb204 million (US$31 million), Chongqing Brewery will contribute ownership of five breweries, and CLT will contribute ownership of seven breweries. The transaction is conditional upon approvals.
Carlsberg was represented by a Beijing-based Gide Loyrette Nouel team led by Warren Hua and assisted by Zheng Yu and Sun Jin. Dong Yi of Chongqing Tianyuan Law Firm advised Chongqing Brewery.
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