The world's biggest brewer, Anheuser-Busch InBev, has added Citigroup and B...
HONG KONG - The world’s biggest brewer, Anheuser-Busch InBev, has added Citigroup and Bank of America Merrill Lynch to the team of banks working on the sale of its Asia-Pacific business, three people with direct knowledge of the matter told Reuters.
With main markets China and Australia, the region last year made up 18 percent of group volume and 14 percent of underlying operating profit, which in turn rose 13 percent to $3.1 billion. It was not clear how much of the business was up for sale.The Leuven, Belgium-based maker of Budweiser, Corona and Stella Artois brands aims to spin-off its Asia-Pacific business to reduce leverage, the people said.
The IPO would not be the first time AB InBev has sold Asia-Pacific assets to reduce debt. After InBev bought Anheuser-Busch in 2008, AB InBev sold South Korean unit Oriental Brewery to private equity firm KKR - only to buy it back in 2014.
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