Anheuser-Busch InBev has announced that it has completed the sale of Carlton & United Breweries, its Australian subsidiary, to Japan’s Asahi Group.
The deal, valued at approximately US$11 billion, includes rights to commercialise the portfolio of AB InBev’s global and international brands in Australia.
In December of 2019, Australia's competition regulator raised concerns over deal saying that said it will reduce competition in the cider market and may also do so in the beer market.
Dedication And Focus
Carlos Brito, chief executive officer of AB InBev, commented, “Despite the challenging environment, our colleagues working on this transaction showed great dedication and remained focused on delivering to its completion.
“I would like to thank them and also the CUB team for their continued commitment and resilience.”
The proceeds from the divestiture of Carlton & United Breweries will be used for debt repayment by the company, the brewer added.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.