Tsingtao clinches Shenzhen brewery venture with Asahi

H share Tsingtao Brewery yesterday confirmed it would form a joint venture with Japan's Asahi Breweries and Itochu Corp in what will be mainland's biggest draught beer manufacturer. The new venture, Shenzhen Tsingtao Beer Asahi Brewery, will produce Tsingtao and Asahi bottled beer brands. Tsingtao will have 35 per cent of the venture, Pine Seal Investment Co, 31 per cent, Asahi Breweries, 19 per cent, Itochu Corp, 7.5 per cent and Sumikin Bussan Corp, 7.5 per cent.