Sapporo Unit Enters JV, Partnership Contract with Carlsberg Group

Carlsberg Malaysia (KLSE:CARLSBG) said Carlsberg Group entered into a strategic partnership with Sapporo Holdings (TYO:2501) unit Sapporo Breweries in the U.K. and a JV company across Southeast Asia and Hong Kong. Carlsberg will hold a 75% interest in the JV alongside full operational control, according to a Monday Malaysia bourse filing. Sapporo will own a 25% stake on the payment of $643 million to Carlsberg, which the latter will use to repay debt and for general corporate purposes. The JV, subject to customary regulatory approvals and the relevant conditions, will incorporate operations in Vietnam, Laos, and Cambodia, and have perpetual exclusive rights to produce and distribute Sapporo Premium Beer across these markets. These operations are in addition to Carlsberg Group's existing collaboration with Sapporo in Malaysia, Singapore, and Hong Kong. Carlsberg will also get the license to produce and distribute Sapporo Premium Beer in the U.K. and Myanmar under long-term contracts with Sapporo.