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Tsingtao to Buy Shandong Brewery for $281 Million

Tsingtao Brewery Co. will acquire Shandong Xin Immense Brewery Co. for 1.87 billion yuan ($281 million). Tsingtao will pay cash to purchase 100 percent of its smaller rival, which brews and sells beer in China’s eastern Shandong province, according to a statement to Hong Kong’s stock exchange. Shandong owns the “Silver Wheat” brand and had profit before tax in the first 10 months this year of 121 million yuan on sales of about 400,000 liters of beer.

written on 07.12.2010 um 19:43.


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