HONG KONG: AB raises stake in Harbin
Anheuser-Busch has upped its holding in Harbin Brewery. The US company has increased its stake in the brewer to 38.17% from 36% by buying 21.75m shares at HK$5.58 each, according to a filing on the Hong Kong Stock Exchange website.
The filing also stated that AB now holds 382.2m shares in Harbin.
AB emerged victorious from its bidding war with SABMiller for Harbin last week, when SABMiller said that it would not proceed with its voluntary offer of HK$4.30 for shares in Harbin and that it will accept the offer of HK$5.58 that AB has announced it will be making for shares in the Chinese brewer.
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