China: There may be a hitch in Anheuser-Busch's plan to make Harbin Brewery Ltd. in China a private company. U.S.-based Castlerigg International Ltd., a fund company, has bought a 10.01 % stake in Harbin, the Hong Kong Stock Exchange said.

Harbin is registered in the Cayman Islands. Under Cayman Islands law, a shareholder can only compulsorily take a company private if it holds at least 90 percent of the firm. As long as Castlerigg holds its 10.01 percent, Anheuser-Busch would not be able to privatize Harbin.

Some analysts said Castlerigg bought the stake to pressure Anheuser-Busch to raise its offer price for Harbin's shares, according to a Dow Jones Newswires report. Anheuser-Busch offered HK$5.58, or about 71 U.S. cents, for each outstanding share of Harbin. Or Castlerigg could sell its stake to A-B in the tender offer at a small profit. Castlerigg paid HK$5.55 a share, according to Hong Kong Stock Exchange data.

On June 18, Anheuser-Busch Cos. Inc. closed on its acquisition of a majority stake in China's Harbin Brewery Group and started the tender offer for the shares it doesn't own.

St. Louis-based Anheuser-Busch Cos. Inc., the world's largest brewer, manufactures and recycles aluminum cans and operates theme parks. It is the area's 19th largest employer.

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