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Carlsberg strengthens foothold in world's largest beer mkt

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Carlsberg had initially inherited a stake in Chongqing Brewery through its takeover of British brewer Scottish & Newcastle in 2007. Carlsberg had initially inherited a stake in Chongqing Brewery through its takeover of British brewer Scottish & Newcastle in 2007.
SummaryDanish brewer Carlsberg has bought controlling stake in China's Chongqing Brewery.

offer in March, when Chief Executive Jorgen Buhl Rasmussen called the purchase "an important step forward in China", and was given the green light for the deal at the end of October.

Carlsberg's main owner, the Carlsberg Foundation, said in October that it wanted to drop a rule in its charter that it must own at least 25 percent of the brewer. That could open the door for a share issue and further acquisitions in Asia.

Sydbank's Imsgard said however it would be difficult for Carlsberg to grab other large acquisition targets in China ahead of other competitors which have more financial muscle.

CR Snow, a joint venture between SABMiller and China Resources Enterprise, is the largest brewer in China followed by Tsingtao Brewery, Beijing Yanjing Brewery and Anheuser-Busch InBev.

Shares in Carlsberg fell 0.3 percent on Thursday, while the Danish benchmark index fell 0.1 percent.

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