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China: Tsingtao Brewery buys out parent from 22 units
Brewery news

Tsingtao Brewery Co Ltd said it has signed an agreement to buy out parent Tsingtao Brewery Group from 22 units, XFN-ASIA reported May 26.

The stakes, ranging from 2.27 pct to 30 pct, are worth a combined 76.94 mln yuan, Tsingtao Brewery Co said in a statement filed with the Shanghai Stock Exchange.

The 22 companies will become wholly-owned units of Tsingtao Brewery Co after the deal, which is intended to reduce competition with Tsingtao Brewery Group.

28 May, 2008
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