Nestle to Sell Chinese Water Business to Tsingtao Brewery
August 28 2020 - 8:51AM
Dow Jones News
By Mauro Orru
Nestle SA said Friday that it has reached an agreement with
Tsingtao Brewery Co. for the sale of its water business in mainland
China.
The world's largest bottled-water maker didn't disclose
financial details but said it would transfer all its shares in
Nestle Sources Shanghai Limited, Nestle Sources Tianjin Limited and
Yunnan Dashan Drinks Co. Ltd. to Tsingtao Brewery.
The deal includes the transfer of three factories located in
Kunming, Shanghai and Tianjin, as well as local brand Dashan Yunnan
Shan Quan to the Chinese brewer.
Tsingtao Brewery Group will be able to produce and market the
Nestle Pure Life brand, while Nestle will retain and continue to
sell brands such as Perrier, San Pellegrino and Acqua Panna in
China.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
August 28, 2020 08:36 ET (12:36 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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