China: AB InBev’s sale of a 19.99% stake in Tsingtao to Asahi will not affect the controlling power of Tsingtao Brewery Group – a company official

The recent equity deal between Japanese brewer Asahi Breweries Ltd. and world’s largest brewer Anheuser-Busch InBev will not affect the controlling power of Tsingtao Brewery Group in its listed company Tsingtao Brewery Company Limited, an official with the leading Chinese brewer was quoted as saying by Xinhua on May, 7.

Anheuser-Busch InBev, Tsingtao Brewery's former second largest shareholder, signed an agreement on February 23 this year with Asahi Breweries for the sale of a 19.99 percent stake or 260 million H-s hares in Tsingtao to the latter. Anheuser-Busch InBev still keeps 91.6 4 million H-shares, or 7.01 percent stake in Tsingtao.

The official with Tsingtao Brewery noted that after the above-mentioned transaction being done recently, Tsingtao Brewery Group, which holds 30.89 percent stake in the listed company, remains as its largest shareholder.

08 May, 2009