News
News
InBev China venture gets regulatory nod for IPO
The Chinese venture of InBev NV has obtained regulatory approval for an initial public offering in China to raise about 1 billion yuan ($147 million), a person with direct knowledge of the situation said on Friday.
The preliminary approval, given by the China Securities Regulatory Commission in a morning meeting on Friday, allows Guangzhou Zhujiang Brewery Co, 28.6 percent owned by InBev, to sell up to 70 million shares.
The timing and location of the listing have not been determined, said the source, who declined to be identified.
Zhujiang Brewery, China's fifth-biggest beer maker, is seeking funds to expand as it competes with bigger rivals such as CR Snow and Tsingtao in the world's biggest beer market by sales.
InBev, set to become the world's biggest beer maker after agreeing to buy Anheuser-Busch Cos Inc this month, competes with major foreign players such as SABMiller, Heineken and Carlsberg, which have also moved into China.
written on 28.07.2008 um 04:06.
[overview]
Australia: Beers sales rise in tough times
09.01.09 - The global economic crisis has failed to quench people's thirst for beer, with the Australian beer market performing strongly. [more]
InBev completes pricing of $5 bln note issue
09.01.09 - Anheuser-Busch InBev, the world's largest brewer, said on Friday it has completed the pricing of $5 billion bond issue and will use the cash raised to refinance and repay debts. [more]
A-B InBev to close London Budweiser brewery
07.01.09 - Anheuser-Busch InBev plans to close a historic West London brewery under a restructuring of its operations in the United Kingdom, a spokeswoman said Tuesday. [more]
We support:
