BELGIUM: EU gives Anheuser-Busch InBev CVC sale green light
Anheuser-Busch InBev's planned divestment of its brewing assets in Eastern Europe to private equity group CVC Capital Partners has been given the go-ahead by the European Commission.
The US$2.2bn transaction, initially announced last month, gained EC clearance under the EU Merger Regulation late last week.
Assets to be sold to CVC are A-B InBev operations in Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Romania, Serbia and Slovakia.
The deal includes the Staropramen brewery in Czech Republic, but A-B InBev will retain the right to brew and distribute Staropramen in several countries including Ukraine, Russia, the US, Germany and the UK.
The brewer will also have first refusal to buy back the brewing assets, should CVC decide to sell in the future.
CVC raised around $1bn in financing from banks for the deal, which is expected to be completed by January.
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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