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China: Tsingtao Brewery to take over rival Jinan Beer

Chinese Brewer Tsingtao announced plans to take over Shandong-based brewer Jinan Beer

Tsingtao intends to pay 250 million yuan for Jinan Beer and thus trying to extend its market share in China. Tsingtao Brewery and its competitor Snow are trying to increase its presence in China’s fast growing beer market.
Tsingtao announced that it has signed a contract with Jinan’s parent Shandong Commercial Group that it will take over Jinan beer, which has an annual beer output of 300.000 kiloliters and assets worth 1.08 billion yuan.
Analysts expect that the takeover will lift Tsingtao’s share in the Shandong beer market to 80 percent.
Under the planned agreement Tsingtao Beer will buy the regional brand and the distribution channels of Jinan, while the staff and factories will remain controlled by Shandong Commercial Group.

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Thursday, December 14, 6:57 pm

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