Anheuser-Busch has sold its stake in CCU, according to local reports. The US brewer auctioned off its stake in the Chilean brewer on Friday (12 November), according to a report from the Santiago Stock Exchange.

Two local brokerages picked up the stake for a total consideration of US$299m.

A spokesman for AB said that the US brewing giant would continue its partnership with CCU, for production and distribution of its beer in Chile and Argentina.