Interbrew buys Zhejiang Shiliang Brewery

Battle for China''s beer market continues to bubble as Interbrew snaps up Zhejiang Shiliang Brewery

Interbrew announced today Tuesday that it has acquired a 70% controlling interest in Zhejiang Shiliang Brewery Company located in the wealthy coastal province of Zhejiang. ING acted as the financial advisor to Interbrew in the $53.2 million transaction.

The transaction strengthens Interbrew's number one position in Zhejiang Province, where the company already has a 70% stake in the KK Group. The company says the most recent transaction will give it a market share of close to 50%.

The takeover is expected to close later this summer. It will raise Interbrew to the number two position in terms of market share in China, producing some 30 million hectolitres...

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