Denmark-headquartered Carlsberg entered the Indian market in 2007
Carlsberg has signed a Memorandum of Understanding (MoU) with the Ministry of Food Processing Industries (MoFPI), Government of India, at World Food India 2025
A clutch of select investment banks invited by the beer manufacturing behemoth for listing pitches in September
CSAPL is the holding company for the Carlsberg's businesses in India (100 per cent) and Nepal (90 per cent), through its shareholding in Gorkha Brewery Private Limited (GBPL)
Carlsberg has agreed to buy out CSAPL, its partner in India, and Gorkha Brewery Private, its partner in Nepal, for $744 million in total, the Danish brewer said on Friday.
The multinational brewers, known for their global presence and strong local brands, have a significant footprint in India.
The world's third-biggest brewer also said it is buying out its partner in India and is seeking an option with the buyer of its Russian business to re-enter that market at some point in future.
It now expects "high single-digit-percentage organic growth in operating profit" this year. This replaces a previous guidance from April 21 of -5% to +2% operating growth.
Danish beer maker Carlsberg, private equity fund Oaktree Capital, Nirma Chemicals, and SNJ Distilleries are in the race to buy HNG.
The Competition Commission of India (CCI) in 2018 raided the offices of the brewers and started an inquiry.
The investigation found evidence of potential unethical practices in breach of Carlsberg Group policies in the period up to 2018.
The brewers called on the German government to give beer breweries aid under the country’s programmes to help industry recover from the impact of the coronavirus crisis.
Three members of Carlsberg India’s board reportedly voted against approving the latest accounts due to lack of clarity.
The Competition Commission of India (CCI) launched the investigation after AB InBev told the watchdog it had detected an industry cartel, leading in 2018 to dawn raids at the three brewers' offices to collect evidence.
The Danish brewer entered the Indian market in 2007 and has seven breweries across the country
Carlsberg said today that its 2017 net profit fell to 1.26 billion kroner ($210 million), from 4.49 billion kroner a year earlier. Revenue dropped to 61.8 billion kroner from 62.6 billion kroner.
The company said it has signed pacts with Lilasons Industries Ltd in Maharashtra and with Pali Hills Breweries in Jharkhand to further strengthen its operations in the states.
AB InBev, whose takeover of SABMiller would be one of the largest mergers in corporate history, formally announced early in November that it would buy SABMiller for $106 billion. It also said that it agreed to sell the latter's stake in US venture MillerCoors to help win regulatory approval.
The group said it would take impairment and restructuring charges of around 10 billion Danish crowns (USD 1.44 billion), of which most was booked in the third quarter and as a result it now sees organic operating profit to decline by high single-digit percentages.
MS Dhoni is padding up for a new innings - on the couch. He's going to be spending quite some time on it watching the 2013 season of the Barclays English Premier League (EPL).
Investors banking on emerging market consumers to offset the saving, retrenchment and deleveraging of cowed Western households may have to rethink.