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A-B purchases 5% stake in Tsingtao.

Anheuser-Busch will purchase a 5% stake in Tsingtao Brewery Co. Ltd., the first Chinese firm to announce plans to sell shares on the Hong Kong stock exchange.

The St. Louis-based brewer has announced that it will buy 45 million Tsingtao "H' shares, worth $16.4 million.

In a statement, A-B said that the investment would not effect distribution of Tsingtao beer in the U.S., not that of Budweiser in China "at this time."

John Koykka, vice president of finance at Anheuser-Busch International, Inc. said the Tsingtao purchase was A-B's first direct equity investment in an Asian brewer. "We want to form a broad strategic alliance with Tsingtao," he said.
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Title Annotation:Anheuser-Busch Companies Inc.; Tsingtao Brewery Company Ltd.
Publication:Modern Brewery Age
Date:Jul 5, 1993
Words:110
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