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CHINA: Tsingtao Brewery to buy minority stakes

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Tsingtao Brewery is looking to buy the minority stakes in 22 units that it does not already own from its parent company.

The Chinese company, which is 27%-owned by Anheuser-Busch, said today (9 April) that the stakes, which range between 2.27% and 30%, carry a combined price of CNY76.9m (US$11m).

The sale, which will go through the Qingdao Equity Exchange, will help to simplify Tsingtao's shareholder structure, and will free its parent company, Tsingtao Brewery Group, to focus on real estate development.

The closing date for bids for the stakes will be 28 April, Tsingtao said.

Last month, the brewer said that it is looking to raise over US$200m, to invest in expansion, through a bond offering.


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