The world’s largest brewer by volume, AB InBev has announced that it has completed sale of Carlton & United Breweries to Asahi Group Holdings, Ltd.
“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,” said Carlos Brito, Chief Executive Officer of AB InBev.
The transaction is valued at 16 billion AUD, equivalent to approximately 11 billion USD, in enterprise value. As part of this transaction, AB InBev granted Asahi Group Holdings, Ltd. rights to commercialize the portfolio of AB InBev’s global and international brands in Australia.
The beer giant said that a substantial proceed from the divestiture of the Australian business will be used by the company to pay down debt.