Carlsberg buys out popular Hue brewery
Thua Thien-Hue province has sold its 50 percent stake in the Hue Brewery Company to Carlsberg, making the Danish beer giant the 100 percent owner.The deal is valued a total of 1.8 trillion VND (93 million USD) for its two breweries and the Huda Hue brand name.
Thua Thien-Hue province has sold its 50 percent stake in the Hue Brewery Company to Carlsberg, making the Danish beer giant the 100 percent owner.
The deal is valued a total of 1.8 trillion VND (93 million USD) for its two breweries and the Huda Hue brand name.
Hue Brewery was established in 1990 and became a joint venture with Carlsberg Group four years later with the two sides' stakes valued at 9 million USD each.
The company, with an annual output of 200 million litres, has an 8 percent market share of the Vietnam beer market, and is one of the top four brewers in the country along with Sabeco, Habeco and Vietnam Beer.
It hopes to expand its market share to 15 percent by 2015 and the deal, its general director Nguyen Mau Chi explained, is to help the company fulfil its strategy since the provincial government could not find the required financial resources.
(Source: Vietnam investment news)