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Probably the gutsiest placement in the world

Carlsberg sells remaining 13.1% stake in Korea's Hite Brewery for $235 million as markets slump.

By Anette Jönsson

June 13, 2006

Carlsberg has sold its remaining 13.1% stake in KoreaÆs Hite Brewery through a placement that took investors by surprise given the ongoing sell-off in global equity markets that has now lasted for more than a month.

Yesterday alone, KoreaÆs Kospi index lost 2.9% and FinanceAsiaÆs FA100 index, which tracks 100 bluechips in the region outside of Japan, plunged 3% to 1,367.3 amid rapidly growing fears that a pick-up in US inflation will force the Federal Reserve to keep up its rate hike campaign for some time yet.

The placement, which was only the second block trade over $100 million in Asia since May 9, also came at a time when HiteÆs share price...

Equity
North Asia

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