August 3 -- Chongqing Brewery (600132) and Danish brewer Carlsberg Group jointly invested in Chongqing Xinghui Investment, reports China Business News, citing a company filing.

Chongqing Brewery will inject a 100-percent stake in its Panzhihua subsidiary as well as an 85.75-percent stake in its Hunan subsidiary into Xinghui Investment, while Carlsberg will inject 204 million yuan in cash into Xinghui Investment. After the asset injection, Chongqing Brewery will hold a 51.42-percent stake in Xinghui Investment, while Carlsberg will hold a 30-percent stake in the company.

Xinghui Investment will change its name to Chongqing Jianiang Brewery.

Xinghui Investment now has production capacity of 600 million liters of beer. It posted beer sales volume of 319.8 million liters in 2010.

Carlsberg, which was founded in 1847, previously spent 2.38 billion yuan to acquire a 12.25-percent stake in Chongqing Brewery in April last year.

Source:CapitalVue