Asahi considering selling its stake in Tsingtao Brewery

By Laura Mullan
Japanese brewer Asahi Group Holdings has said that it is considering selling all or part of its 19.99% stake in Tsingtao Brewery Co. Limited. "We are e...

Japanese brewer Asahi Group Holdings has said that it is considering selling all or part of its 19.99% stake in Tsingtao Brewery Co. Limited.

"We are engaging in efforts to restructure our business portfolio with a focus on asset efficiency, to assess whether each business contributes to sustainable enhancement of corporate value," Asahi Group said in a statement.

RELATED STORIES:

Asahi acquired its stake in Tsingtao in 2009 for about US$666.5mn and, according to today's share price, the stake is now valued at about US$1.1bn.

The review comes as part of Asahi’s latest divestment from China’s beer industry as the company pursues growth in Europe and other Asian markets.

The company says that it aims to both strengthen its position in the domestic market to be a “value accretive industry leader in Japan” and also to develop its existing brands and acquire “new foundations for growth by leveraging existing strengths.”

Asahi Group holds about 270.13mn shares of the Chinese brewery giant, which roughly translates to a 19.99% stake.

Last week, Asahi Group Holdings announced that it would be increasing the price of its bottled beers and kegs for the first time in a decade, citing a rise in distribution costs and new regulations as the reason for the hike.

The company has not yet identified a potential buyer or the sale price for its stake in Tsingtao brewing Co. Limited.  


 

Share

Featured Articles

Careers Passport: flagship programme to help jobseekers

A fast-track job scheme designed to remove barriers to enter the food and drink industry has seen over 1,000 training opportunities created.

Coca-Cola, Diginex & Reckitt tech to support supply chains

Respect for human rights is critical to good business, says Coca-Cola’s Paul Lalli, as the company joins diginexLUMEN to catch supply chain forced labour

Luxury food manufacturer Venchi on sustainable packaging

Cècile Osti, of luxury chocolate manufacturer Venchi, on Easter 2022, Sorrento lemons, sustainable packaging, natural ingredients & the pleasure of food

How has the pandemic affected sales at General Mills?

Food

Morrisons partners with Nestle in sustainability scheme

Retail

PepsiCo Launches pep+ a Strategic End-to-End Transformation

Drink