US: A-B InBev completes theme parks sale
Anheuser-Busch InBev has completed the sale of Busch Entertainment Corporation to private equity firm Blackstone Group for US$2.7bn.
A-B InBev said late yesterday (1 December) that it has closed the sale of the business, which Blackstone has renamed SeaWorld Parks & Entertainment.
Blackstone agreed to pay $2.3bn for the business, with A-B InBev securing the right to claim a further $400m depending on the private equity group's success.
"Busch Entertainment Corporation is a high performing asset with a world-class management team, but not a core business for Anheuser-Busch InBev," said A-B InBev CEO Carlos Brito when announcing the sale agreement in October.
The sale forms part of more than $7bn in asset disposals at A-B InBev over the last 12 months. The brewer embarked on a disposals strategy to pay down debt on InBev's $52bn acquisition of Budweiser brewer Anheuser-Busch in late 2008.
China's Guangzhou Zhujiang Brewery, which is 24%-owned by Anheuser-Busch InBev, is planning to raise up to RMB1bn (US$146M) via a share offering, according to a report....
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