Japan’s Suntory Holdings plans to dissolve its joint ventures with China’s second-largest beer maker Tsingtao Brewery Co, and reallocate its resources to the wine market amid a slowing Chinese economy, the Japanese company said on Monday [19 October 2015]. Suntory will sell its entire 50 percent stakes in two joint ventures in production and sales to Tsingtao by next June. The deal is worth nearly 823 billion yuan ($130 billion), according a Tsingtao’s filing to the Hong Kong stock exchange…Full Article: ECNS.cn Oct 2015
- Once the JV is dissolved, Suntory will focus on marketing wine and whiskey in China, though Suntory beer will still be distributed in Shanghai via Tsingtao.
- In 2012, Suntory and Tsingtao established a joint-venture.
- In May 2014, Huiyuan acquired Suntory China Holdings Ltd’s (Japanese beverage subsidiary) Chinese assets and planned to produce bottled oolong tea and coffee drinks (via Suntory).