Carlsberg Gets Regulatory OK For $490M Chongqing Buy

Law360, New York (October 31, 2013, 11:18 AM EDT) -- Danish brewer Carlsberg Group A/S received approval from Chinese regulators to more than double its stake in China's Chongqing Brewery Co. Ltd. to 60 percent, the target said Thursday, pushing along a deal worth $490 million that was first proposed in March.

The China Securities Regulatory Commission agreed to let Carlsberg beef up its 29.7 percent interest in the partial takeover, giving it a major leg up in a buzzing Asian food and beverage sector. While the Danish company's foray into China came after a wave...
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