just the facts - Anheuser-Busch InBev asset disposals
In May this year, Anheuser-Busch InBev completed the sale of a 19.9% stake in Chinese brewer Tsingtao to Japan's Asahi for US$667m. The deal saw A-B InBev retain a 7% in Tsingtao. However, a month later this stake was sold to a Chinese private investor, Chen Fashu, for US$235m.
The deal with Fashu came only 24 hours after A-B InBev announced that it has agreed to sell South Korea's second largest brewer, Oriental Brewery, to private equity group KKR for $1.8bn.
In September, Anheuser-Busch InBev completed the sale of its brewing operations in Northern Ireland, Republic of Ireland and Scotland, including the Tennent's lager brand, to C&C Group for GBP180m (US$286m). As part of the deal, A-B InBev retained the right to use the Tennent's Super and Tennent's Pilsner brand names in "certain worldwide geographies". Ireland-based C&C, which owns Magners cider in the UK and Bulmers in Ireland, hailed the deal as a "long-term play" to expand the company's portfolio.
In early October, Anheuser-Busch InBev completed the widely-expected sale of its entertainment business to private equity group Blackstone Capital Partners. The sale raised in the region of US$2.7bn for the company, completing around $6bn of the group's target $7bn in assets disposals. The purchase price comprised of a cash payment on closing of US$2.3bn and a right to participate in Blackstone's return on its initial investment capped at US$400m. Busch Entertainment Corporation (BEC) is the second largest entertainment park operator in the US. It operates ten entertainment parks throughout the country, including three SeaWorld parks in Orlando, Florida, San Antonio, Texas, and San Diego, California, two Busch Gardens parks in Tampa, Florida and Williamsburg, Virginia, and other family entertainment attractions in Orlando, Florida, Tampa, Florida, Williamsburg, Virginia, and Langhorne, Pennsylvania.
In the same month, Anheuser-Busch InBev completed the sale of four metal can and lid packaging plants to Ball Corporation for US$577m. The Belgium-based brewing giant closed the sale of the plants on 1 October, which were owned by its subsidiary firm, Metal Container Corporation. As part of the transaction, Ball Corporation signed a long-term supply agreement to continue to supply A-B InBev with metal beverage cans and lids from the divested plants. Ball also committed, as part of the acquisition agreement, to offer employment to each active employee of the plants.
Anheuser-Busch InBev finally met its target this week with the sale of its Eastern European assets to private equity group CVC Capital Partners for US$2.2bn. The deal, if completed, will take the brewer over its $7bn disposals target. Assets to be sold to CVC are A-B InBev operations in Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Romania, Serbia and Slovakia.
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Anheuser-Busch InBev has further improved its finances by issuing US$3.25bn in bonds....
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