Carlsberg to increase stake in Chongqing Brewery

Chongqing Brewery Co Ltd, one of China's largest beer makers, said on Tuesday that Carlsberg Brewery Hong Kong Ltd is planning to increase its shareholding in the company.

The company's shares were suspended from trading on Tuesday.

Carlsberg Hong Kong has promised to make a decision on the deal within five days of the suspension, when trading will resume.

As the wholly owned subsidiary of Danish premium brewer Carlsberg Group, Carlsberg Hong Kong increased its stake in Chongqing Brewery to 29.71 percent in 2010, becoming the company's largest shareholder.

Analysts said that expanding its footprint in China is very important to Carlsberg. Carlsberg Group's revenue increased only 3 percent year-on-year in 2012, with growth in the Asian market reaching 9 percent, while in China the figure was more than 4 percent, according to its financial report.

In June, the Danish brewer located its second-largest brewery globally in Dali, Yunnan province.