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Tsingtao And Suntory To Set Up Two JVs In China

|Includes:TSGTF, Tsingtao Brewery Co., Ltd. ADR (TSGTY)

Prepared by ChinaScope Financial | Source:Yahoo

  • Suntory Holdings Group announced on April 30 that it has formed a strategic partnership with Tsingtao Brewery Co., Ltd. (00168: HKG; 600600: SHA) to set up two joint ventures (JVs) in Shanghai.
  • The 50:50 JVs will specialize in the brewing and distribution of beer beverages under the brand of Suntory and Tsingtao, placing primary focus on beer businesses in Shanghai and the Jiangsu Province.
  • Suntory Holdings Group is one of the oldest companies engaged in the distribution of alcoholic beverages in Japan, while Tsingtao Brewery is China's leading beer brewer and distributor.
Stocks: TSGTY, TSGTF