The US brewer, Anheuser-Busch, has doubled its stake in the leading Chinese beer producer, Tsingtao, from 4.5% to 9.9% by exercising convertible bonds acquired in April.
The additional stake will be issued for the conversion of the first tranche of its HK$280.8m convertible bond issued April 1 as part of the strategic investment deal which the two companies signed last October. That deal will see Anheuser-Busch increase its stake in Tsingtao to 27% over seven years for a total consideration of US$182m.
