China: Scottish & Newcastle announced on November 8, 2004 that, further to previous announcements, it had completed the purchase of 50 million shares in the Chongqing Brewery Co. Ltd, (‘CBC’) representing 19.51% of the total equity and becoming the second biggest shareholder of CBC. The purchase price, as previously announced, was Rmb 525m (c.Ј34.5m) in cash.
The shares were purchased from Chongqing Beer (Group) Co. Ltd (‘CBG’) which remains, after this transaction, the largest shareholder with 34.55% of the total equity.
09 November, 2004
