InBev says has bought Chinese brewer Siping Ginsber

AB InBev, the world's biggest brewer, on Wednesday said it has acquired Chinese beer company Siping Ginsber in a deal that could make it the country's number three brewer. The Belgian-Brazilian giant confirmed it had acquired the Chinese brewery but did not disclose financial terms of the purchase. Chinese media reports valued the deal at around 450 million euros ($620 million). "We hereby confirm that Anheuser-Busch InBev has recently acquired the Siping Ginsber Draft Beer Co," In Bev said. The Siping Ginsber business, based in the northeastern province of Jilin, gives InBev about 13 percent of the Chinese market, which would make it the country's third-largest brewer. China is a key market for all the major brewers and InBev ranks the country alongside the United States, Brazil and Mexico as a key focus. Its beer sales rose 8.9 percent by volume in China last year.