Asahi Breweries Ltd. (TYO:2502) has signed a tie-up deal with Carlsberg A/S (FRA:CBGB) to sell its popular Super Dry beer products through the Danish brewery's retail sales network in Hong Kong later this month, industry sources said. The two beer makers are expected to expand the scope of their tie-up to the world's other markets.
Sydney, Jan 4, 2010 AEST (ABN Newswire) - Asian shares delivered a positive opening this morning. The Asian bourses were higher in thin trade on the last day of 2009 as commodity prices rose and China pledged to maintain policies that helped pull the world economy out of recession. For the year, Hong Kong's Hang Seng Index added 52%, Australia's S&P/ASX 200 Index gained 31% in 2009 and Singapore was up 65 percent over the year. But Wall Street tumbled on the final trading day in 2009. Dow index remains down 26 per cent from its 2007 highs.
Company News
The Japanese government said Sunday the state-owned Development Bank of Japan will double its credit line for the Japan Airlines Corp. (
TYO:9205) to 200 billion yen. In November, Development Bank set a credit line of 100 billion yen for the struggling air carrier and has already paid out just over half of the total.
Asahi Breweries Ltd. (TYO:2502) has signed a tie-up deal with Carlsberg A/S (CBGB:FRA) to sell its popular Super Dry beer products through the Danish brewery's retail sales network in Hong Kong later this month, industry sources said. The two beer makers are expected to expand the scope of their tie-up to the world's other markets.
Korea Development Bank plans to invite strategic investors including the POSCO (SEO:005490) to buy the majority stake in troubled Daewoo Engineering & Construction Co. (SEO:047040), said industry sources. KDB will send investment offers to companies at home and abroad within the month.
India's Jindal Steel & Power Ltd. (BOM:532286) has matched a takeover bid by its Chinese rival for Australian coking coal developer Rocklands Richfield Ltd. (ASX:RCI), offering 56 cents a share, Rocklands said Monday. China's Meijin Energy Group in late December raised its initial November offer to 56 cents, valuing Rocklands at A$197 million.
Australian farm chemicals maker Nufarm (ASX:NUF) has rejected China Sinochem's A$2.6 billion offer to buy a stake in Nufarm and the talks have ended. Nufarm has made a deal for a new alliance with Japan's Sumitomo Chemical (TYO:4005) and also finalised plans to raise $250 million in new equity capital.
Huaneng Power International Inc. (SHA:600011) (HKG:0902) (NYSE:HNP), China's largest electricity producer by capacity, said Monday it agreed to buy several assets of two power companies for a combined CNY8.625 billion. The asset buys from electricity retailer Shandong Power and power producer Luneng Development were agreed on Dec. 31.
Contact
Michelle Liang
Asia Business News Asia Bureau
Tel: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net
| ||
|
