Japan's Asahi Breweries to take 20 pct stake in Tsingtao Brewery
Tokyo (AFP) Jan 23, 2009 Japan's biggest beer maker Asahi Breweries said Friday it has agreed to purchase a 19.99 percent stake in China's Tsingtao Brewery. Asahi said it will pay 666.5 million dollars to take the share in mid-March from Anheuser-Busch InBev SA of Belgium. By tightening the "strategic partnership" with Tsingtao, Asahi said it hopes to expand in the Chinese market. The two firms have had a joint venture since 1997 in China to produce both Asahi and Tsingtao products. Asahi has steadily expanded its overseas operations. Last month, it announced a plan to buy Schweppes Australia from British confectionery maker Cadbury for 810 million US dollars. Share This Article With Planet Earth
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