Carlsberg Takes Full Control of Indian and Nepalese Operations
Carlsberg, the Danish brewing giant, has announced its acquisition of full control over its operations in India and Nepal. This move follows the company's exercise of an option to buy out its partner in the region, CSAPL (Singapore) Holdings. The deal, valued at $744 million, will see Carlsberg acquire a 33.33% stake in Carlsberg South Asia (CSAPL) and other stakes in underlying companies.
Upon completion of the transaction, expected in the fourth quarter of 2023, Carlsberg will own 100% of its Indian business and 99.94% of its Nepalese business. This acquisition signifies Carlsberg's commitment to capturing the long-term growth potential of these exciting beer markets.
The move comes after Carlsberg's victory in an arbitration case against its Nepal-based partner, Khetan Group, in 2022. The tribunal awarded Carlsberg the right to purchase Khetan's shares in the joint venture, which controls approximately 17% of the Indian beer market.
With full control over its Indian and Nepalese operations, Carlsberg aims to accelerate investments and capitalize on the significant growth opportunities presented by these markets. This move strengthens Carlsberg's position as a major player in the global beer industry and demonstrates its confidence in the future of these dynamic markets.