E-Malt.com News article: 2716

Hong Kong: Anheuser-Busch, the world's largest beer maker, has raised its stake in Harbin Brewery to 36 % from about 29 %, Hong Kong's market regulator said on June, which will require the company to make a general offer for the Chinese firm. Anheuser-Busch is battling for control of Harbin with arch-rival SABMiller, which has offered HK$4.30 per share for Harbin, or US$550 million.

Hong Kong's Securities and Futures Commission said Anheuser-Busch bought nearly 69.6 million shares in Harbin at HK$5.58 per share on Monday. Shares in Harbin were suspended on Tuesday after closing at HK$5.10 on Monday.

Under Hong Kong's takeover rules, an investor must make a general offer for the shares in a company if its holding reaches 30 %.


01 June, 2004