CHINA: Anheuser and Tsingtao may sign deal by year end
The much mooted expansion of Anheuser-Busch's relationship with the leading Chinese brewer Tsingtao Brewery could be tied up by the end of the year, a Tsingtao official was reported as saying today.
The timeframe is well ahead of initial expectations, which had a target of July 2003 for a signed deal.
"Given negotiations on the tie-up are proceeding very smoothly, a deal is expected to be signed within this year," said Zhang Ruixiang, a spokesman for Tsingtao Brewery.
Tsingtao Chairman Li Guirong flew to Beijing earlier this week to further the talks with an Anheuser-Busch team based there, he said, adding that Li was in the United States with Anheuser-Busch last month.
Earlier this year the two companies announced that they had signed a deal to form a strategic partnership. Details of the deal were not revealed but reports suggest that it will include the US brewing giant, Anheuser-Busch, raising its stake in the Chinese brewery, Tsingtao, from 5% to 27%.
Anheuser-Busch is expected to pay around HK$1.2 billion to purchase the additional shares, based on an offer price of HK$4.20 per share, representing around a HK$1 premium to the current trading price. If the deal goes through it would make Anheuser-Busch the largest shareholder in the Chinese company after the state-run Tsingtao State-Owned Assets Management Bureau.
The global roll-out of InBev's Brazilian beer, Brahma, adds a third premium brand to the global brewer's international portfolio but some observers have suggested it's an unnecessary step which threat...
Anheuser-Busch may have to reinstate workers it dismissed after catching inappropriate behaviour using hidden cameras....
Anheuser-Busch is to follow the US launch of its B(E) beer by rolling out the brand in the UK....
The US brewer Anheuser-Busch said today that it had seen its earnings per share fall 3% in the first quarter of the year, compared to the same period last year as it was hit by difficult trading condi...
Patrick Stokes, president and chief executive officer of Anheuser-Busch Companies, has said that the company's board of directors has declared a regular quarterly dividend....
Berkshire Hathaway Inc., the holding company of billionaire Warren Buffett, has acquired a significant stake in Anheuser-Busch....
Anheuser-Busch has threatened to stop buying rice from Missouri if the state allows genetically modified, drug-making crops to grow within its borders....
China's largest brewer Tsingtao Brewery has reported a 16.4% jump in net profit for the year to Y285m, according to local reports....
- Why Scotch must drop the 'malts good, blends bad'
- Pernod's mood darkens over India - Analysis
- Heineken Q1 2017 by region - results data
- Remy Cointreau Fiscal-2017 sales - results data
- Soft drinks is losing the recycling game
- Diageo to cut 105 jobs in Scotland, 50 in Italy
- Scotch sales set to soar, despite recent struggles
- TWE's Beringer Main & Vine Dry Rosé - NPD
- Edrington shifts innovation to US in shake-up
- Pernod Ricard posts solid YTD sales jump - results
- Global Champagne and sparkling wine insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Myanmar - ISA Country Report
- Emerging Drinks Industry Trends