Investment Updates News
- S&N to boost stake in Chongqing Brewery
Date: 4-Jan-2007 Sources: (Shenzhen Daily)
SCOTTISH & Newcastle PLC (S&N) is to spend up to US$197 million on bolstering its stake in one of China's leading brewers, according to The Daily Telegraph's Web site yesterday.
S&N, which includes Foster's and John Smith's among its biggest-selling U.K. brands, will increase its stake in Shanghai-listed Chongqing Brewery Co. to just under 20 percent, according to the newspaper. The deal will be completed in the first half of the year, according to someone familiar with S&N's plans.
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