Carlsberg plans further etablation in Southwest-China via a new joint venture.

Carlsberg will establish a joint venture in China with Chongqing Brewery Co. Ltd and Chongqing Light Textile Holdings (Group) Co., Ltd. On 27.12.2010 Carlsberg announced it had bought more shares in Chongqing Brewery Co. and said then that it is interested in furthering the cooperation. Chongqing Light Textile Holdings is another major shareholder in Chongqing Brewery Co.

The new joint venture will be called Chongqing Xinghui Investment Co., Ltd. Carlsberg will own 30% of it directly. The new company will operate 12 breweries in Chongqing and in Sichuan, Guangxi, Guizhou and Hunan provinces. Carlsberg will make a cash contribution of 200 million Renmimbi (~160 million DKK) into the JV, while the local contribution will be in form of breweries. There is still a host of regulatory and minority shareholder related hurdles to overcome before final approval is reached.