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Tsingtao Brewery Jumps as Asahi Puts China Stake Up for Sale

  • Asahi may sell all or part of 20 percent stake in Tsingtao
  • The move could revive ‘laggard’ Tsingtao, Mizuho’s Yeo says
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Photographer: Qilai Shen/Bloomberg
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Shares in Tsingtao Brewery Co. climbed the most since May after Asahi Group Holdings Ltd. went public with its plans to put a minority stake worth $1.2 billion in the Chinese brewer on the selling block as Japan’s largest brewer focuses on growth in Europe.

Confirming a Bloomberg report in January on the appointment of Morgan Stanley as Asahi’s adviser on a sale, the beermaker said Thursday that it has started evaluating a potential transfer of all or part of its 20 percent stake in Tsingtao, without specifying a buyer or a selling price. Asahi may sell the holding at auction, said Takuo Soga, spokesman for the Japanese company.