AB Inbev: abandons option to buy CBA
(CercleFinance.com) - Anheuser-Busch announced on Friday that it has decided not to exercise its option to buy the remaining capital of the American craft brewer Craft Brew Alliance (CBA).
The owner of the Budweiser, Michelob and Stella Artois brands - which currently controls 31.3% of CBA - explains that it prefers to stick to the 2016 distribution agreement with the company from Portland, Oregon.
This decision will result in AB InBev's US subsidiary paying a 20 million dollar premium to the independent brewer.
In a statement, CBA says however that it is "disappointed" with its shareholder's decision, while stressing that the removal of this uncertainty will enable it to fine-tune its strategy.
Despite everything, its shares are down over 10% on the Nasdaq on Friday morning.
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