Chen Fashu, one of the richest men in China, has entered into an agreement to buy a 7% stake in Tsingtao Brewery from Anheuser-Busch InBev for $235 million. Once the sale goes through, InBev will have completely cashed out of China's largest brewery.
Following InBev's $52 billion acquisition of Anheuser-Busch last year, the newly formed company fell foul of China's new anti-monopoly law. The regulator said the new drinks behemoth would be unable to increase its pre-existing stakes in Tsingtao Brewery and Zhujiang Beer.
Instead InBev started to do the opposite. In January, it entered into an agreement to sell 19.9% of its 27% stake in Tsingtao to Japan's Asahi Breweries...
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