HONG KONG: Tsingtao AB agreement to be redrawn
Tsingtao Brewery Co Ltd and Anheuser-Busch are aiming to revise their strategic agreement after AB's acquisition of Harbin Brewery Group Ltd, according to press reports. The Standard cited Tsingtao's Chairman Li Guirong as saying that, under the current agreement Tsingtao will not co-operate with another foreign brewer in China and AB will not join forces with another local brewer.
Li told Hong Kong reporters at the company's headquarters in Qingdao that AB's takeover of Harbin, China's fourth largest brewer, broke an agreement which was signed two years ago.
However Li said that when AB, which has a 9.9% stake in Tsingtao, notified his company about its interest in taking control of Harbin, Tsingtao supported the decision.
Li would not clarify what exactly the two brewers will discuss.
"How are we going to proceed is still under discussion ... It will definitely be in the best interests of our shareholders," he said, without specifying a time-frame.
Sectors: Beer & cider
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 has reiterated its 2005 earnings per share outlook....
Anheuser-Busch is the latest US drinks company to be hit by industrial action....
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....
Anheuser-Busch has increased its economic interest in China's Tsingtao to 27% upon its conversion of all the remaining convertible bonds in Tsingtao....
- Most Valuable Spirits Brands in 2017 - The facts
- Most Valuable Beer Brands in 2017 - The facts
- Has the politics of M&A changed? - Analysis
- IAADFS Duty Free Show of the Americas - Preview
- What the future looks like for Australian wine
- Coca-Cola Co announces senior executive shake-up
- Heineken sees Tesco pull SKUs in UK
- Baijius brand value overtakes whisk(e)y - figures
- Heineken releases colour-change bottles
- Diageo's Captain Morgan LocoNut - NPD
- Central and East Europe Report Package
- Battle of the Generations - The fight for iGen, Millennial, Gen X and Baby Boomer consumers
- Global vodka insights - market forecasts, product innovation and consumer trends
- Global Scotch insights - market forecasts, product innovation and consumer trends
- Global liqueurs insights - market forecasts, product innovation and consumer trends research