Anheuser-Busch (BUD) is looking to buy Siping Ginsber Draft Beer for 3.8 billion yuan (US$630 million).
The deal has been on the table since September but the two companies have yet to finalize the details, according to an industry insider close to the case. Anheuser-Busch would need approval from the Ministry of Process to complete the acquisition which is not on the ministry’s approval list as of Jan. 11.
Ginsber is one of China’s single largest beer factories, ranking eighth in China’s beer production industry with single factory production exceeding 600,000 tons. Anheuser-Busch is third on that list with beer production that reached 5.66 million tons in 2011.
BUD stock has been holding steady with shares up 0.03% Wednesday.