Budweiser InBev sells its Australian business to Japan

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      Anheuser-Busch InBev (ABI.BR), the world's largest brewery, will sell its Australian business to Asahi Group Holdings (250.2 billion T) for $11 billion, and may restart the stagnant listing process in Asia to reduce debt.
Budweiser InBev said on Friday that it had agreed to sell Carlton & United Breweries (CUB), an Australian subsidiary worth A$16 billion ($11.3 billion). The debt generated by the acquisition of SABMiller in 2016 put pressure on IBM.
For Asahi Group Holdings, this is the largest deal in its history. A source close to the talks said it would make the Japanese company the third largest winemaker in the world, after Budweiser InBev and Heineken/Heineken (HEIN.AS).
A week ago, InBev shelved its initial public offering (IPO) deal to sell 15% of its Asian business, including Australia, citing unfavourable market conditions.
Sources said that Asahi Group Holdings had expressed its intention to acquire the Australian subsidiary of Budweiser InBev earlier this year, but the two sides only started negotiations after the above-mentioned IPO plan was shelved.
"Budweiser InBev will soon be in touch with Asahi again because they can raise almost as much money as the IPO deal," the source said, adding that the talks were held in Hong Kong and London.


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