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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China approves US-Belgian beer merger AP - Wednesday, November 19 BEIJING - Beijing agreed Tuesday to Belgium-based InBev SA's takeover of Anheuser-Busch Cos. Inc.'s Chinese operations as part of their global merger but limited future acquisitions on anti-monopoly grounds. The tie-up is part of InBev's $52 billion purchase of Anheuser-Busch, which was approved Friday by the U.S. Justice Department. The China portion of the merger was the highest-profile acquisition approved since a new Chinese anti-monopoly law took effect in August. The Commerce Ministry said it concluded the merger would not reduce competition in China's fast-growing beer market. But it said the companies were barred from increasing existing stakes in Chinese brewers to preserve competition. Global brewers are eager to expand in China. Following a string of acquisitions of Chinese brands in the 1990s, Anheuser-Busch and other brewers have spent heavily to build market share. The Commerce Ministry said Anheuser-Busch is barred from increasing its 27 percent stake in the Tsingtao Beer Ltd. InBev is barred from adding to its 28.5 percent stake in Zhujiang Beer Ltd. The companies are barred from linking up with two leading Chinese breweries, Huarun Snow Beer Ltd. and Beijing Yanjing Beer Ltd., the ministry said. The U.S. Justice Department agreed to InBev's purchase of Anheuser-Busch on condition the Belgian brewer sell its Labatt USA brand to reduce its market dominance. ___ On the Net: Chinese Commerce Ministry (in Chinese): http://www.mofcom.gov.cn Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Oz Minerals warns on profit, possible writedownsReuters - 1 hour 9 minutes ago US sees long road to recovery as economic gloom spreadsAFP - 2 hours 17 minutes ago Ecuador to impose raft of import controlsAP - Wednesday, November 19 Online sales growth in October slowest on recordAP - Wednesday, November 19 Related Articles: Business BofA CEO: There are '1 too many' Detroit 3 membersAP - 28 minutes ago Japan Hot Stocks-Mazda gains as Ford to sell stakeReuters - 33 minutes ago Nikkei edges down as global recession fears weighReuters - 50 minutes ago Seoul shares open higher but quickly lose gainsReuters - 50 minutes ago South Korean won rises early, firmer stocks helpReuters - 54 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Citigroup to slash 50,000 jobs, expenses worldwide Exercise, sleep cuts cancer risk: study Obama and McCain pledge 'new era of reform' Acinetobacter is emerging hospital superbug: study Earth would be heading to a freeze without CO2 emissions View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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