May 20, 2004 |
Anheuser-Busch Cos., the world's largest beer maker, completed its purchase of a 29% stake of Harbin Brewery Group Ltd., setting up a possible battle with No. 2 SABMiller for control of the China-based brewer. Anheuser-Busch said it acquired the shares for $139 million. The closing of the deal came after SABMiller, which owns a 29.4% stake in Harbin, made a May 5 hostile takeover bid for all the Chinese beer maker's shares. Harbin has asked shareholders to reject SABMiller's offer.