Anheuser-Busch's stake in a brewer in China would appear to be one of the more likely divestments following the US company's sale to InBev last week, according to an analyst.

In a note to clients, released today (25 November), UBS has suggested that A-B InBev, as the new entity is now known, may sell A-B's 27% holding in leading Chinese brewer Tsingtao Brewery. While the Chinese company's parent company, Tsingtao Group, would be one of the leading candidates to buy the stake, UBS suggested that "other international brewers" may be interested in the stake.

When contacted over a separate matter today, a spokesperson for Carlsberg declined to comment on whether the Danish company would be interested in any such sale.

Earlier this month, Tsingtao reported increases in volumes and net profit for the first nine months of 2008. Beer volumes for the nine months to the end of September rose by 7% to 44.81m hectolitres, driven by a 24% rise for the group's flagship Tsingtao brand, the firm said in a Hong Kong stock exchange filing. Net profit for the three quarters rose 24% to RMB699.8m (US$102m).

Last week, a spokesperson for A-B InBev told just-drinks that the company had "a list of assets at both companies" that it would consider divesting to help fund the acquisition. The spokesperson declined to detail the list, noting that A-B InBev has up to one year to make the divestments.