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...One of the most high-profile deals was the $750m buy-out of Harbin Electric, an electric motor maker, by the chief executive, backed by Abax Global Capital, a Hong Kong-based fund....
...competitors that he expects to soon rival JSW, but he said they were gathering experience on the basis of work on new nuclear reactors commissioned by Chinese power companies including Dongfang Electric, Harbin...
...InBev sees significant value in Anheuser’s Harbin Brewery, people close to the company say, but a disposal of Anheuser’s coveted minority stake in Tsingtao may be simpler and easier to stomach....
...It also fully owns Harbin Breweries in northern China, a brewery in Wuhan and is pushing ahead with a new greenfield brewery in the country, which is the world’s fastest growing beer market....
...In 2004, Anheuser beat SABMiller to buy Harbin Brewery. InBev raised eyebrows last year by paying nearly $740m for Fujian’s Sedrin Brewery. That initial land grab has slowed....
...The new breed of mainland-owned Hong Kong companies, which lack dynastic baggage, are more ready to sell out for the right price – enabling, for instance, Anheuser-Busch of the US to buy Harbin Brewery....
...Pre-tax profits were lower because of exceptional gains associated with the sale of investments in Edgars Consolidated Stores and the Harbin Brewery Group in the previous financial year....
...It also bought then fifth-ranked Harbin Brewery in 2004, and a year later raised a stake first taken in 1993 in Tsingtao Brewery, to 27 per cent. It has two seats on Tsingtao’s board....
...Also last year, Warburg Pincus and local partner Citic Capital Markets struck a deal to buy a majority stake in Harbin Pharmaceutical Group with a loan of $282m....
...own presence in Harbin’s heartland....
...Anheuser-Busch, the industry leader, last year took over Harbin, the biggest brewer in northeast China, for $718m, after trumping a rival offer from SABMiller, the world?...
...The Anglo-South African brewer in June lost an unprecedented hostile attempt to take over its erstwhile ally China Harbin Breweries....
...The deal follows this year's bidding war for China's Harbin Brewery between SABMiller and rival Anheuser-Busch....
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