Asahi looks to exit Tsingtao after it fails to dent China's beer market

Asahi looks to exit Tsingtao after it fails to dent China's beer market

Asahi Breweries' new beer product Asahi Super Dry Premium (L), and reissued beers Asahi Super Dry (R) and Asahi Super Dry Dry Black are seen in front of its president Akiyoshi Koji during their unveiling in Tokyo December 12, 2013. REUTERS/Yuya Shino

For a foreign brewer hoping to gain an edge in the Chinese market, it seemed like the ideal alliance: Japan’s largest beermaker teaming up with one of China’s premier brands. Yet, Asahi Group Holdings Ltd.’s 2009 purchase of a minority stake in Tsingtao Brewery Co. didn’t produce the opportunities the Tokyo company hoped.

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