Carlsberg further expands into China with JV

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    Carlsberg 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.

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