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11 January 2011 - Gide Loyrette Nouel advises the Carlsberg Group on further Asian expansion:
Gide Loyrette Nouel (GLN) has advised the Carlsberg Group (Carlsberg) on its acquisition of an additional shareholding in Chongqing Brewery Co Ltd (CBC), a Chinese company listed on the Shanghai Stock Exchange. The acquisition takes Carlsberg's stake from 17.46% to 29.71%, making it the largest shareholder.
The purchase price for the 12.25% stake in CBC was RMB 40.22 per share or approximately RMB 2.385 billion (approximately USD 349 million) in total. The transaction has gone through all the necessary steps and received all the required approvals.
CBC operates 16 breweries in Chongqing and the surrounding provinces of Sichuan, Hunan, Anhui and Zhejiang. In 2009, CBC's Chinese beer volumes were approximately 10m hl. The Shancheng brand family, which is largely focused in the mainstream market segment, accounts for the majority of CBC's volumes. The Shancheng brand has a long-standing regional heritage and has been accorded the "China Famous Brand" status by the Chinese Government.
The GLN team, led by Beijing-based partner Warren Hua, with assistance from senior associates Sun Jin, advised Carlsberg on all aspects of the acquisition including structuring, negotiation, documentation and regulatory formalities.
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