Battle for Harbin continues

Anheuser-Busch increased its stake in Harbin Brewery to 36%, prompting a general takeover offer for the rest of the Chinese brewer's shares, Hong Kong's Securities and Futures Commission said. Under takeover rules in Hong Kong, a shareholder that increases its stake in a company to more than 30% must make a general offer for the company. US-based Anheuser-Busch's stake increase and takeover offer followed a takeover attempt by global rival and fellow Harbin Brewery shareholder SABMiller, which owns a 29.4% stake in the brewer. Harbin Brewery is the fourth-largest brewer in China.