US: A-B InBev completes theme parks sale

By just-drinks.com editorial team | 2 December 2009

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.

Sectors: Beer & cider

Companies: InBev