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Tsingtao steps in after Suntory JV loses fizz

By Wang Zhuoqiong In Beijing And Xie Chu Anjiao In Qingdao, Shandong ( China Daily ) Updated: 2015-10-20 08:41:55

Chinese brewer to acquire balance 50% stake in venture for about $129.5 million

Tsingtao Brewery Co Ltd said on Monday that it is to buy the 50 percent stake it does not own in its loss-making joint venture with Japanese beverage conglomerate Suntory Holdings Ltd for 822.9 million yuan ($129.5 million) to boost efficiency.

The joint venture has run into rough weather as sales have stalled amid stiff competition in the Chinese market.

Tsingtao steps in after Suntory JV loses fizz

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