The Carlsberg Group will increase its ownership to 100% in Wusu Beer Group (WBG), the market leader in Xinjiang in China. WBG owns 6 breweries in Xinjiang with a combined annual production capacity of approximately 6m hl.
WBG is a 50/50 joint venture between the Carlsberg Group and Xinjiang Hops. In addition to direct ownership in WBG, Carlsberg owns 30% in Xinjiang Hops. The acquisition is done through an asset swap, where Carlsberg will acquire Xinjiang Hops’ 50% stake in WBG and dispose of the 30% stake in Xinjiang Hops. The transactions are inter-conditional, and Carlsberg will receive a net cash proceed of approximately DKK 200m upon completion.
The transaction is conditional upon certain approvals and expected to be finalised at the end of 2015.
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Contacts Media Relations: Jens Bekke +45 3327 1412 Jim Daniell +45 3327 2874 Investor Relations: Peter Kondrup +45 3327 1221 Iben Steiness +45 3327 1232 For more news sign up on www.carlsberggroup.com/subscribe or follow @CarlsbergGroup on Twitter. |
