Tsingtao Brewery declares to acquire 51% shares of First

Tsingtao Brewery (0168), which was suspended last Friday, announced that it would acquire 51% shares of First (Fujian) Brewery Plant at a total price of HK$85 mln. By the end of April this year, the net assets value of First stood at HK$145.11 mln while the book value reached HK$84.09 mln. The acquisition price represented a premium of 14.8% over the abovementioned net assets value.

Tsingtao Brewery will resume trading today.

Related stock : (168)