inbev-offloads-remaining-stake-in-tsingtao

InBev offloads remaining stake in Tsingtao

One of China's richest men pays $235 million for Anheuser-Busch InBev's final 7% stake in the Chinese brewery.

Chen Fashu, one of the richest men in China, has entered into an agreement to buy a 7% stake in Tsingtao Brewery from Anheuser-Busch InBev for $235 million. Once the sale goes through, InBev will have completely cashed out of China's largest brewery.

Following InBev's $52 billion acquisition of Anheuser-Busch last year, the newly formed company fell foul of China's new anti-monopoly law. The regulator said the new drinks behemoth would be unable to increase its pre-existing stakes in Tsingtao Brewery and Zhujiang Beer.

Instead InBev started to do the opposite. In January, it entered into an agreement to sell 19.9% of its 27% stake in Tsingtao to Japan's Asahi Breweries...

¬ Haymarket Media Limited. All rights reserved.

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