Asahi Spends $858m To Grow In China

By Annette Shailer

Asahi Breweries has upped the stakes, spending $858m to acquire 19.99 per cent of the equity interest in Tsingtao Brewery Company from Anheuser-Busch Inbev SA.

The acquisition will see Asahi become the biggest shareholder in Tsingtao Beer, one of China’s few internationally famous brands.

This comes on the back of a lot of movement in the global beverage industry with Kirin Holdings of Japan acquiring the 54 per cent of shares in Lion Nathan it did not already own for $12.22 per share earlier this month. 

Asahi Breweries also bought Schweppes Australia for $1.19b in March and Belgian company InBev acquiring Anheuser-Busch for $53.5b last July.

[Fri 29/05/2009 11:55:41]