Tsingtao Prudent To Focus On Local Market

In a deal that aims to readdress the balance between nationwide expansion and local strength, Chinese beer major Tsingtao Brewery has acquired a 39% interest in Yantai Beer Asahi - a joint venture between Chinese brewer Yantai Beer Group and a subsidiary of Japanese giant Asahi, Asahi Breweries Itochu. Tsingtao has historically enjoyed a strong market share in its domestic province, but its grip has slipped in line with its nationwide expansion efforts. Tsingtao will acquire 2% of the joint venture's shares from Yantai and 37% from Asahi, making it the second-largest shareholder in the newly-formed company, Yantai Beer Tsingtao

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