Word: harbin
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...dominated by local tastes and brewers. In recent years, multinational players like Anheuser-Busch, SABMiller, Heineken and Interbrew have embarked on a wave of consolidation, buying up smaller brands in Eastern Europe, Latin America and Asia. In May, SABMiller and A-B briefly engaged in a bidding war for Harbin, the fourth largest brewery in China, which is now the fastest growing and biggest beer market in the world. Though SAB lost out to Anheuser's higher offer, Miller's parent still holds a 49% stake in China Resources Breweries, the country's second largest brewery...
...ANHEUSER-BUSCH, the world's largest brewer; a takeover battle for control of Harbin Brewery, China's fourth-largest beermaker; in Harbin. U.S.-based Anheuser offered $717 million for 70% of Harbin's shares, beating out a hostile bid by London-based rival SABMiller. The takeover battle marked the first time foreign companies have vied for the right to acquire a publicly traded Chinese company...
...Harbin Brewery rejected SABMiller's bid. And, on May 2, A-B itself won the right to buy the shares, which had been sold to an investment group (both transactions await government approval). With the two beer giants now holding roughly equal stakes, something had to give...
...small for the both of us," says Nigel Sairbrass, spokesman for SABMiller. So his company tried something new. Because the remaining 40-odd percent of shares are listed on the open market in Hong Kong, it was able to issue last week's buyout offer for all outstanding shares. Harbin Brewery's ceo has been vociferous about his preference for a marriage with A-B, but the decision isn't his to make. Instead, his company's future hinges on shareholders, who should soon vote on SABMiller's bid?or on an expected counteroffer from A-B. For the first...
...Whatever happens, Harbin Brewery's existing shareholders seem sure victors. In just two days last week, their stock surged 51%. For them, at least, there's ample reason to toast the latest foreign interlopers with a taste for Chinese beer...