- Fosun International (OTCPK:FOSUF, OTCPK:FOSUY) is acquiring a stake of 18% in Tsingtao Brewery Group (OTCPK:TSGTF, OTCPK:TSGTY) from Asahi (OTCPK:ASBRF) for about HKD $6.6B ($844M U.S.). The Chinese powerhouse beat out Carlsberg (OTCPK:CABGY) in bidding for the second largest beer producer in China.
- China Market Research Group's Ben Cavender says Fosun struck the deal at an attractive price and at a good time.
- "China’s beer market is going through a reinvention right now as younger consumers shift towards more niche brands. Tsingdao is kind of an outlier because it has mass scale and volume but is also looked upon as being more premium than other domestic beer brands," he observes.
- Shares of Tsingtao rallied 4% in Hong Kong today.
Disruptive beer deal in China
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