(Bloomberg) -- Carlsberg AS will take full control of its businesses in India and Nepal for $744 million as it steps up growth in the region.
The brewer will buy the one-third of Carlsberg South Asia Pte that it doesn’t already own from its partner, CSAPL (Singapore) Holdings, to take full ownership of the India operations, the company said Friday. It will boost its stake in the Nepal unit to almost 100% through a separate deal.
“Growing in India is a key priority,” Carlsberg Chief Executive Officer Jacob Aarup-Andersen said. “We can now accelerate investments to capture the long-term growth opportunities.”
The Indian beer market is currently valued at about $14.5 billion, with at-home purchases expected to grow annually by almost 3%, according to data from Statista.
The brewer will retain $207 million of the $744 million, to be released depending on potential claims, likely after three to five years, it said.
Carlsberg expects the transactions will be completed in the fourth quarter of this year.
--With assistance from Christian Wienberg.
©2024 Bloomberg L.P.
