Harbin Brewery Group Ltd

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.

Anheuser-Busch Cos. made a $686.7-million bid for Harbin Brewery Group, topping SABMiller's bid for China's oldest brewer by 30%. Anheuser-Busch offered $497.7 million for the 64% of Harbin's remaining shares after paying $50 million to boost its stake to 36%. The St. Louis-based company paid $139 million to buy 29% of Harbin two weeks ago. The world's two largest brewers are competing for a share of China's beer sales, a $6-billion market.

Anheuser-Busch Cos. made a $686.7-million bid for Harbin Brewery Group, topping SABMiller's bid for China's oldest brewer by 30%. Anheuser-Busch offered $497.7 million for the 64% of Harbin's remaining shares after paying $50 million to boost its stake to 36%. The St. Louis-based company paid $139 million to buy 29% of Harbin two weeks ago. The world's two largest brewers are competing for a share of China's beer sales, a $6-billion market.

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.