Anheuser-Busch Closes Deal for Harbin Stake
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Anheuser-Busch Cos., the world’s largest beer maker, completed its purchase of a 29% stake of Harbin Brewery Group Ltd., setting up a possible battle with No. 2 SABMiller for control of the China-based brewer.
Anheuser-Busch said it acquired the shares for $139 million. The closing of the deal came after SABMiller, which owns a 29.4% stake in Harbin, made a May 5 hostile takeover bid for all the Chinese beer maker’s shares.
Harbin has asked shareholders to reject SABMiller’s offer. Anheuser-Busch has yet to say whether it will bid for the rest of Harbin, maker of Hapi beer.
Anheuser-Busch rose 6 cents to $51.81 on the NYSE.
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