11 May, 2007

China: Yanjing Brewery exempted from tender offer

Beijing Yanjing Brewery Co., Ltd. was exempted from tender offer of buying more shares in Huiquan Brewage Group Inc. Fujian China Co., Ltd., SinoCast reported May 10.

A statement from China Securities Regulatory Commission (CSRC) showed that Beijing Yanjing Brewery, one of China's leading brewers, had bought another 3.4 million shares in Huiquan Brewage Group Inc. Fujian China in the secondary market.

The sold shares accounted for 1.36% of the total stock capital of Huiquan Brewage Group Inc. Fujian China. After the acquisition, Beijing Yanjing Brewery totally held a 50.03% stake in Huiquan Brewage Group Inc. Fujian China.

A spokesman from Beijing Yanjing Brewery states that the company has already increased as many as 3.231471 million shares in Huiquan Brewage Group Inc.

Fujian China till now, totally holding 124.899278 million shares or a 49.9597% stake in the latter.

What is more, Beijing Yanjing Brewery will buy another 168,529 shares in Huiquan Brewage Group Inc. Fujian China, snatching a 50.03% stake in the latter.

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