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Tsingtao sale could reshape China's beer market

Japan's Asahi unloads stake after learning 20% is not enough

Major breweries in China have been eyeing Asahi's stake in Tsingtao since its planned sale was announced in October.

DALIAN, China -- After more than eight years of trial and error, Asahi Group Holdings has decided to sell its stake in Tsingtao Brewery. The chance to buy into China's second-largest brewery has piqued the interest of several major players.

Entering the race are China Resources Beer, China's No. 1 brewer and Carlsberg, which holds the No. 5 position. Whichever company comes away with the prize, however, will likely face the same challenges as Asahi.

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