Anheuser-Busch, the US beer giant and China's Tsingtao Brewery will unveil details of their strategic alliance as early as this week, sources close to the deal were quoted in the press today as saying.

The announcement would include a plan to boost Anheuser-Busch's stake in Tsingtao, China's largest beermaker, from the current 4.5% and provide details of broad business cooperation between the two brewing giants, the source, who asked not to be identified, told Reuters.

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.