Project Description
Yantai Changyu Group Company Limited (the Group) is a holding company mainly controlling a 53.8% stake in Yantai Changyu Pioneer Wine Company Limited (Changyu or the company), a Shenzhen-listed company involved in the production and distribution of wine, sparkling wine and brandy. Changyu is the oldest and the largest wine producers in China, with cumulative output of 80,000 tons per annum of total products and a domestic market share of approximately 20%. The Yantai City People’s Government State Assets Supervision and Administration Commission (Yantai Government) of Shandong Province currently controls 55% of the Group and intends to sell 43% of its stake to foreign investors. The proposed IFC investment is to purchase part of the stake in the Group.