The shares of the Chinese largest brewing force, Tsingtao, have risen by about 31% over the past three months since the deal with Anheuser-Busch was first announced. Now the shareholders in Tsingtao have approved the strategic investment made in the company by the US brewer, Anheuser-Busch. Tsingtao will issue convertible bonds to Anheuser-Busch in three instalments, with a total value of $182m, under the terms of the deal.

Anheuser-Busch, the largest brewing group in the world, said in October 2002 that it planned to increase its stake in Tsingtao to 27% by the end of the decade. Anheuser-Busch currently owns 4.5% in Tsingtao.

28 January, 2003