China: The giants’ rush of for getting share in Sedrin
Chinese beer giant the Fujian Sedrin Brewery Company, which listed 39.48% of its shares for sale on the Fujian Property Exchange Center, has become the target of an acquisition scramble by international beer giants, Asia Pulse communicated on November 7.
Contenders include AB of the United States, Interbrew of Beligum and Heineken of the Netherlands, according to sources with the Fujian Provincial Property Exchange Center.The shares are all state-owned legal shares in the Sedrin Brewery which with total assets of more than 111.2 billion yuan at present, produced 720,000 tons of beer in 2004, with per capita profits and taxes ranking second among Chinese beer brewers.
The world's top 10 beer brewers have all showed intents to get the share, disclosed an official in charge of the Trading Division of the Fujian Provincial Property Exchange Center.With more buyers participating, the asked price of the 39.48% share has also risen.
Some media had reported that the estimated price of the 39.48% share has reached as high as US $800 million.
Nevertheless, an official of the Property Exchange Center denied the figure on November 3.The official just said that all is in the process, but refused to give more information.
The official disclosed that AB, Interbrew, Heineken and domestic second beer brand Yanjin have expressed their acquisition intent to the center, but he refuted to give information about the detailed list of tenders and the progress of negotiations for the reason of commercial secret. All will be made public when the final tender is decided, said the official.
The Sedrin Brewery Company made an announcement on August 31 in the Fujian Provincial Property Exchange Center that it will transfer all state-owned legal person shares, which make up 39.48% of its total shares, through public bidding, and select strategic cooperation partners worldwide.
Sedrin demanded that overseas buyers have assets of no less than seven billion yuan and that their beer sales revenue for the previous year exceeds 40 billion yuan.
Only China's top three beer enterprises and the world’s top 10 are qualified to bid, according to sources with the company.
Wstecz
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