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.