Tsingtao Beer to buy Carlsberg's loss-making Chinese brewery

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BEIJING--Tsingtao Beer, China's most famous beer brand, is in talks to buy the loss-making Shanghai-based brewery of Danish beer giant Carlsberg.

Carlsberg opened the Shanghai plant in the early 1990s, but failed to build a sufficient market share to make it profitable. Carlsberg's current share in China is just 1.82% of the beer market and the brewery's losses are estimated at between $8.4 million and $12 million a year.

Tsingtao Beer, which plans to become one of the world's biggest brewers over the next decade, may pay around $12 million for the Carlsberg plant.

Copyright September 2000, Crain Communications Inc.

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