Asia: Carlsberg considering selling part of its Asian operations, sources say

Danish brewer Carlsberg A/S is considering selling part of its Asian operations, and Sapporo Holdings Ltd has emerged as a top candidate to make the purchase, The Edge Malaysia reported on November 17 citing people familiar with the matter.

Carlsberg is in discussions with the Japanese company, which is leaning toward acquiring a minority stake in its Asian business, the people said. The sale may not proceed if an agreement can’t be reached on the ownership ratio and other terms, they said.

A Sapporo Holdings spokesperson declined to comment, saying it’s not the source of this information. A spokesperson for Carlsberg said the company doesn’t comment on market rumors or speculation.

Sapporo is also proceeding with the sale of its subsidiary Sapporo Real Estate Co, which operates high-profile Tokyo properties like Yebisu Garden Place, aiming to reach a conclusion by December.

The possible deal aligns with its strategy to strengthen its core beer business after selling off the real estate operations.

Sapporo Breweries Ltd, a subsidiary of Sapporo Holdings, announced in 2023 a business partnership with Carlsberg for the production and sale of Sapporo beer in Hong Kong, Singapore and Malaysia. By developing this into a capital alliance, Sapporo aims to better leverage Carlsberg’s sales network and boost sales of its beer in Asia.