Carlsberg Finishes $476M Deal For Chongqing Majority Stake

Law360, New York (December 5, 2013, 2:33 PM EST) -- Danish brewer Carlsberg Group has finalized a $476 million deal upping its stake in China-based Chongqing Brewery Co. Ltd. after receiving regulatory approval in October, Chongqing told the Shanghai stock exchange Thursday.

Carlsberg beefed up its 29.7 percent interest to 60 percent, giving it a major leg up in a buzzing Asian food and beverage sector. While the Danish company's foray into China comes after a wave of acquisitions in the sector last summer, the region remains a hotspot for strategic deal makers.

On Wednesday, Chongqing...
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