Beer War Brewing in Asia Between A-B, Miller
St. Louis, MO – A beer war appears to be brewing in Asia.
The company that owns Miller Beer said this morning (Wednesday) it's trying to take over the a beer maker in Hong Kong called Harbin Brewer.
That comes just a day after St. Louis based Anheuser-Busch bought a nearly 30% stake in Harbin.
SABMiller holds 29%, but is now offering stockholders $0.55 a share for their stock. SAB values Harbin at $551 million, and its offering prices is a third higher than Harbin's closing price on Friday.
SABMiller already has interests in 30 breweries in northeastern and central China and a 49% stake in China Resources Breweries, the second-largest brewing company in China.
Anheuser-Busch is a minority investor in Tsingtao, another Chinese brewer.