Anheuser-Busch buys brewery stake

Anheuser-Busch announced that it agreed to pay nearly US$140 million for a 29% stake in Harbin Brewery. Anheuser-Busch competitor SABMiller holds a 29.6% share in the Harbin, Heilongjiang province-based brewer. Anheuser-Busch acquired its share in Harbin Brewery via its acquisition of investment holding company Global Conduit, which purchased a 29% share of the brewer in March. Anheuser-Busch also holds a 9.9% share in Tsingtao Brewery, China's largest brewer, which it has agreed to increase to 27% in the future.