Chinese conglomerate Fosun plans sale of $527m Tsingtao Brewery stake

Chinese conglomerate Fosun plans sale of $527m Tsingtao Brewery stake

Photo: Reuters

Chinese conglomerate Fosun International Ltd said on Tuesday it has agreed to sell all of its 4.89% stake in Tsingtao Brewery Co Ltd through a share placement, raising HK$4.14 billion ($527.47 million) for general working capital.