By AP/KWMU
Hong Kong – St. Louis based Anheuser-Busch says it now owns 99% of the Hong Kong beermaker Harbin.
The company put a legal notice in today's South China Morning Post. It noted that stock exchange rules now require the remaining 1% of shareholders to sell their shares to AB.
Anheuser-Busch is offering about $0.72 a share. That's more than rival SAB-Miller's attempt to buy the company. SAB-Miller had valued the company at $0.55 a share.
Anheuser-Busch says it will apply to delist Harbin from the stock exchange after it acquires the remaining shares. The brewer says the buyout will strengthen the company's position in China's northeast region and will enhance shareholder value.