ABInBev Sells Minority Tsingtao Stake To Asahi For $667 Million
30 April 2009 - 5:44PM
Dow Jones News
ABInbev (ABI.BT) Thursday said it has concluded the sale of its
19.9% minority stake in Tsingtao Brewery Co. Ltd. to Japanese
brewer Asahi Breweries (2502.TO) for $667 million.
The divestiture of this stake in Tsingtao is part of ABInBev's
ongoing de-leveraging program and allows the company to unlock
shareholder value, generating proceeds that will be used to repay
debt incurred as a result of the acquisition of Anheuser-Busch.
As a result of the transaction, Asahi is now Tsingtao's second
largest shareholder. Tsingtao Brewery Group remains the largest
shareholder in Tsingtao. Anheuser-Busch InBev will retain a
minority share in Tsingtao of approximately 7%.
Company Web site: www.ab-inbev.com