RUSSIA: SUN InBev to raise US$692m in share sale - report
Sun InBev is Russia's third-biggest brewer
Sun InBev, the Russian subsidiary of Anheuser-Busch InBev, is to raise up to RUB22bn (US$692.3m) in a private share sale, according to local reports.
Part of the money will be used to repay debts over the acquisition of three Ukrainian breweries in the early 2000s, RBC Daily said today (16 November). SUN InBev could not be reached for comment, or to confirm the report.
SUN InBev is the third-biggest brewer in Russia with about 15% of the market. A-B InBev said in its YTD results earlier this month it has lost market share in Russia, and in August the company announced the closure of a brewery in Kursk.
An analyst recently told just-drinks A-B InBev should cash in on the US$4bn-valued Russian subsidiary because it is “losing critical mass” and takes up too much management time.
I can't remember precisely when I first saw the BRIC acronym. Indeed, with only ten years' experience of the drinks industry, it seems to be have been around longer than I have. I can remember, howeve...
- A-B InBev and its SABMiller divestments - Focus
- SABMiller in Cent'l & E Europe - What is for sale?
- Paddy Irish whiskey - The Facts
- Is the wine industry confusing its consumers?
- Where does AB InBev see the future of beer?
- Pernod Ricard to widen Our/Vodka sales reach
- Remy Cointreau names new Travel Retail exec
- Leonardo DiCaprio joins Runa drinks board
- Pernod in talks to sell Paddy whiskey to Sazerac
- Private equity poised for SABMiller Europe buy?
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global travel retail insights - market forecasts, product innovation and consumer trends
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends
- Carbonates in India
- Consumer and Market Insights: Spirits Market in the US