Asahi Group Holdings Ltd. mentioned Thursday it’s having a look to promote some or all of its 20 % stake in Tsingtao Brewery Co., China’s second-largest beer maker, to focus assets on rising its European industry.
Asahi, Japan’s biggest brewery, bought the stake in 2009 from Belgium-based Anheuser-Busch InBev SA, changing into the Chinese corporate’s second-largest shareholder.
Sale main points might be made up our minds thru a bidding procedure, Asahi mentioned, including the affect on its monetary effects for the 12 months thru December has but to be decided.
The deliberate sale comes after the tie-up failed to yield the effects that Asahi had was hoping for, as plans to use Tsingtao Brewery’s crops to produce its flagship Super Dry lager and craft beers for the Chinese marketplace didn’t materialize, assets accustomed to the subject mentioned.
Asahi has been trimming its presence in Asia and turning its consideration to Europe.
Asahi introduced final June it was once promoting its stake in a Chinese beverage three way partnership to spouse Tingyi (Cayman Islands) Holding Corp. Earlier this month, it mentioned it was once promoting all of its holdings in two Indonesian joint ventures.
Meanwhile, the beer maker has over the last a number of years bought British brewer SABMiller’s former operations spanning from Italy to Romania in a bid to enhance its foothold in the world.