elef Posted September 1, 2005 Report Share Posted September 1, 2005 BREWERIES / BEER GIANTS SETTLE DISPUTE FOR $120 MILLION Carlsberg, Chang may still do business again Danish brewer Carlsberg has settled a dispute with its former Asian joint-venture partner Chang, for $120 million, the company said yesterday. Carlsberg, the world's sixth largest beer maker, said its 2005 company results would show it will be hit by a $40 million fair value adjustment of the purchase price for shares in two Asian breweries, which it acquired in 2002. Carlsberg will also pay $80 million for a 50% stake in Brewery Invest Pte Ltd and 49% of Carlsberg Brewery Hong Kong from Chang. The Danish brewer terminated its partnership with Chang in 2003, saying that the Thai company had not fulfilled its obligations under the joint venture agreement. Chang, controlled by Thai whisky tycoon Charoen Sirivadhanabhakdi, responded by demanding up to $2.5 billion in compensation for the termination of the joint venture. "Chang and Carlsberg have agreed on an amicable settlement of the matters in dispute, including the arbitrations in London and Bangkok," the companies said in a joint statement, adding they will explore possibilities of working together in Thailand and Malaysia. As part of the agreement, Carlsberg sells around 50% of Carlsberg Thai to Chang and 49% of Sukhothai Marketing Co. Carlsberg Thai will be renamed, the parties said. Carlsberg expects 2005 net profit to rise 15% from last year's 1.1 billion krone (about 7.4 billion baht).REUTERS Bangkok Post Link to comment Share on other sites More sharing options...
samak Posted September 1, 2005 Report Share Posted September 1, 2005 that does not mean that they will be back in the market any soon. just one step ahead in the attempt not to be forced to loose 100% of their investment in the JV company with Chang! Link to comment Share on other sites More sharing options...
khwaimaisabai Posted September 1, 2005 Report Share Posted September 1, 2005 Hi samak, But if they have settled with Chang, that frees them to return with some other partner. I don't see Carlsberg staying away from the Thai market for long. I think they will be back soon. Khwai Link to comment Share on other sites More sharing options...
limbo Posted September 1, 2005 Report Share Posted September 1, 2005 Most certainly hope they'll be back soon. Currently drinking Heini's but they're not as good as Carlsberg was. Link to comment Share on other sites More sharing options...
jack_schist Posted September 1, 2005 Report Share Posted September 1, 2005 i agree, i would rather drink your vomit than heiniken Link to comment Share on other sites More sharing options...
BelgianBoy Posted September 1, 2005 Report Share Posted September 1, 2005 jack_schist said:i agree, i would rather drink your vomit than heiniken Please do forgive Limbo, he is Dutch, he does not know any better........ Link to comment Share on other sites More sharing options...
elef Posted September 2, 2005 Author Report Share Posted September 2, 2005 Hi, it has been possible all the time to buy Carlsberg in some bars. A friend told me the beer was imported in containers and pre-paid, as Carlsberg couldn't have a bank account in Thailand or even a container with beer in Thailand without risking a seizure. Now they can start to import in big scale. elef Link to comment Share on other sites More sharing options...
ALHOLK Posted September 2, 2005 Report Share Posted September 2, 2005 Hi! Try Tiger it'closer to Carlsberg. regards ALHOLK Link to comment Share on other sites More sharing options...
limbo Posted September 2, 2005 Report Share Posted September 2, 2005 Gives me headaches the next day. Link to comment Share on other sites More sharing options...
samak Posted September 2, 2005 Report Share Posted September 2, 2005 limbo said:Gives me headaches the next day. i also got a surprising headache; from the 15. bottle upwards! Link to comment Share on other sites More sharing options...
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