Deals
Tsingtao Brewery Jumps as Asahi Puts China Stake Up for Sale
- Asahi may sell all or part of 20 percent stake in Tsingtao
- The move could revive ‘laggard’ Tsingtao, Mizuho’s Yeo says
This article is for subscribers only.
Shares in Tsingtao Brewery Co. climbed the most since May after Asahi Group Holdings Ltd. went public with its plans to put a minority stake worth $1.2 billion in the Chinese brewer on the selling block as Japan’s largest brewer focuses on growth in Europe.
Confirming a Bloomberg report in January on the appointment of Morgan Stanley as Asahi’s adviser on a sale, the beermaker said Thursday that it has started evaluating a potential transfer of all or part of its 20 percent stake in Tsingtao, without specifying a buyer or a selling price. Asahi may sell the holding at auction, said Takuo Soga, spokesman for the Japanese company.