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Two directors, appointed by SABMiller Asia BV, have resigned from Harbin Brewery Group. Roy Bagattini and Jonathan Solesbury have stood down at the same time as SABMiller plc's offer for Harbin's shares is due to be formally withdrawn.

SABMiller Asia BV, a wholly-owned subsidiary of SABMiller plc, originally entered into a strategic investor agreement with the Chinese brewer in July last year. This agreement was terminated last month, however, after SABMiller bought 295m shares in the company from third-party CEDF (Brewery) Holdings Ltd.

SABMiller subsequently made a takeover bid for Harbin, but later withdrew its offer following a rival bid from Anheuser-Busch to buy the shares at a higher price.


Sectors: Beer & cider

Companies: SABMiller

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