《大行報告》大摩:潤啤(00291.HK)斥123億人幣購金沙窖酒 市場關注白酒行業競爭
華潤啤酒(00291.HK)今日股價捱沽,盤中曾低見40元一度下挫9.4%,最新報41元跌7.1%。摩根士丹利發表報告指,華潤啤酒斥資123億元人民幣收購貴州金沙窖酒酒業55.19%股櫂,而此次收購應該會增加集團的利潤,而且交易價格合理。然而,該行指在當前白酒行業需求放緩的情況下,集團需要更具體的計劃來達到啤酒和白酒之間的協同效應,以令兩個業務錄得可持續增長。
該行指,潤啤廣泛的渠道網絡和有效的營銷策略可能產生協同效應,有助於推動白酒業務的增長。此外,交易將提升集團的整體盈利能力。然而,大摩亦指內地白酒行業的競爭,令人憂慮目標公司的增長潛力和可獲取的市場份額。
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