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Tsingtao Brewery to buy Jinan Beer for RMB 250 mln
Tsingtao Brewery Co Ltd plans to purchase Jinan Beer Group for RMB 250 million, sources reported, citing an insider close to the situation as saying.
The source revealed that the acquisition may not include the land use rights or the workshop. The production of Jinan Beer will be transferred to the Tsingtao factory located in Jinan high-tech development zone.
Tsingtao Brewery has reached a preliminary agreement with Shandong Commercial Group, the owner of Jinan Beer, and the acquisition agreement is expected to be signed early this month. Tsingtao Brewery is not available for comment.
The acquisition will help Tsingtao compete with China Resources Breweries Co Ltd in Shandong Province.
Tsingtao Brewery entered the beer market in Jinan in 1997. It built a workshop in Jinan with production capacity of 400,000 tons in April 2007 to better meet demand in the next five to ten years.
written on 08.06.2009 um 07:16.
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