CABGY Carlsburg AS (PK)

   By Jens Hansegard 
 

Carlsberg (CARL-A.KO) said Friday it will increase its ownership to 100% in Wusu Beer Group, an equal-split joint venture between the Carlsberg Group and Xinjiang Hops.

In addition to direct ownership in Wusu Beer Group, Carlsberg owns 30% in Xinjiang Hops.

The acquisition is done through an asset swap, where Carlsberg will acquire Xinjiang Hops' 50% stake in Wusu Beer Group and dispose of the 30% stake in Xinjiang Hops.

Carlsberg will receive a net cash proceed of about 200 million Danish kroner ($29 million) upon completion.

The transaction is dependant upon certain approvals and is expected to be finalised at the end of 2015.

-Write to Jens Hansegard at jens.hansegard@wsj.com

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