Deals
AB InBev Sells Australia Unit to Asahi for $11.3 Billion; Still Weighing Asia IPO
- Japanese brewer to buy Australian unit in $11.3 billion deal
- Belgian company revives Asia IPO talk after pulling listing
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Anheuser-Busch InBev NV bounced back quickly from the failed initial public offering of its Asian unit, selling Australian beer assets in a deal valued at A$16 billion ($11.3 billion) and keeping alive the prospect of a share sale.
The disposal of Foster’s and other brands to Asahi Group Holdings Ltd. less than a week after the IPO was pulled shows that the world’s largest brewer means business about cutting its $100 billion-plus debt pile. AB InBev shares rose as much as 5.6%, the steepest gain in almost five months. The bonds also climbed.