AB InBev: sells Australian unit to Japan's Asahi
(CercleFinance.com) - Anheuser-Busch InBev has sold its Australian unit Carlton & United Breweries (CUB) to Japan's Asahi for 11.
3 billion dollars, the beer giant said on Friday.
AB InBev said the sale would allow the company to focus on other fast-growing markets in the Asia region and globally.
As part of the deal, the world's largest brewer will grant Asahi rights to commercialise the portfolio of its global and international brands in Australia.
The transaction is expected to close by the first quarter of 2020, it said.
After scrapping the IPO of its Asian business earlier this week, AB InBev said it continues to believe in the strategic rationale of a potential offering of a minority stake of Budweiser APAC, excluding Australia, "provided that it can be completed at the right valuation".
Copyright (c) 2019 CercleFinance.com. All rights reserved.
3 billion dollars, the beer giant said on Friday.
AB InBev said the sale would allow the company to focus on other fast-growing markets in the Asia region and globally.
As part of the deal, the world's largest brewer will grant Asahi rights to commercialise the portfolio of its global and international brands in Australia.
The transaction is expected to close by the first quarter of 2020, it said.
After scrapping the IPO of its Asian business earlier this week, AB InBev said it continues to believe in the strategic rationale of a potential offering of a minority stake of Budweiser APAC, excluding Australia, "provided that it can be completed at the right valuation".
Copyright (c) 2019 CercleFinance.com. All rights reserved.