Japanese brewery and soft drink company, Asahi Group Holdings (TSE:2502), had double-digit gains after beating fourth quarter earnings expectations and announcing plans to increase its overseas business. Asahi’s acquisition of SABMiller’s central and eastern European brands in 2016 and its pending stake in Vietnam’s biggest bear maker, Saigon Beer, may drive this expansion. Asahi also signaled intentions to sell its 20% stake in China’s Tsingtao Brewery, worth about $1 billion, as the asset had proven to be a disappointment. The market lauded this strategic development.
From Bernard Horn (Trades, Portfolio)'s Polaris Global Fund first quarter 2017 shareholder letter.
