BELGIUM: InBev must sell Labatt for Anheuser-Busch
InBev must sell its Labatt USA beer business in order to complete the US$52bn takeover of Anheuser-Busch, the US competition regulator has said.
InBev said on Friday evening (14 November) that it has agreed to sell Labatt USA to keep its deal for Anheuser on track.
Labatt USA sells 1.7m hectolitres of the Labatt beer brand in the US annually, and is the main competitor to A-B's Budweiser brand in the state of New York.
InBev said that the impact on earnings of the enforced disposal "is not material". It added that the agreement with the US Justice Department only affected Labatt branded beer in the US.
Under the terms of the deal, the licence to market, sell and distribute Labatt will be handed to a third party. A number of craft brewers, including Boston Beer Co, have been touted as potential suitors.
Labatt Brewing Company, based in Canada and partially owned by InBev, will continue to brew and supply Labatt beer to the US licence holder for a minimum of three years.
InBev said of its A-B takeover. "A closing date has not yet been announced, but InBev expects to complete the transaction as soon as practicable."
Anheuser-Busch InBev has completed a US$3bn note pricing....
Anheuser-Busch InBev has not abused its dominant market position in its native Belgium by forcing suppliers to accept unfair terms, Belgium's competition authority has said....
Anheuser-Busch InBev has agreed to sell its remaining 7% stake in Tsingtao Brewery to a Chinese private investor, Chen Fashu, for US$235m....
The top ten stories published on just-drinks this week:...
Anheuser-Busch InBev has reported an increase in profits and a 4.7% rise in like-for-like sales for the first quarter of 2009....
Anheuser-Busch InBev has finally confirmed that it will sell its South Korean brewing operations to private equity group Kohlberg Kravis Roberts (KKR) & Co....
AmBev, the Brazil-based division of Anheuser-Busch InBev, has reported a 10% rise in net sales and a 32% jump in net profits for the first quarter of 2009, driven by a better-than-expected performance...
Anheuser-Busch InBev has extended its sponsorship deal with Live Nation, one of the world's largest live music companies....
- Boom time for soft drinks in West Europe?
- Protein interest offers drinks opportunities - NPD
- Patron's lesson for the broader spirits sector
- Britvic's H1 Performance by Region - Focus
- Alcohol and the risk of breast cancer - ISFAR
- Analysts clash over AB InBev SAB Brexit impact
- Pernod switches Travel Retail Europe op's director
- AB InBev unveils Stella Artois three-packs
- SABMiller issues currency alert as Africa weakens
- Diageo names Javier Ferran as new chairman
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global RTD insights - market forecasts, product innovation and consumer trends
- Keurig Green Mountain in Hot Drinks (World)
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends