TOKYO -- Suntory will unwind its joint beer venture with Tsingtao Brewery in the face of stalling sales growth and stiff competition in the Chinese market.
The Japanese company will sell its stakes in 50-50 sales and production ventures to China's second-ranked brewer in the first half of 2016. The transaction is expected to total 10 billion yen to 20 billion yen ($83.3 million to $166 million).
