Anheuser-Busch InBev has announced that a consortium of institutional investors led and advised by affiliates of Apollo Global Management, Inc. has completed the acquisition of a 49.9% minority stake in AB InBev’s US-based metal container plants for approximately $3bn.
This transaction allows the company to create additional shareholder value by optimizing its business at an attractive price and generate proceeds to repay debt, in line with its deleveraging commitments.
AB InBev will retain operational control of its US-based metal container plants and has signed a long term supply agreement for cans as part of the transaction. AB InBev has the option to reacquire the minority stake after five years.
AB InBev has been saddled with debt since a takeover in 2016 of rival SABMiller and has been aggressively deleveraging since. It more recently sold its Australian operations and has been attempting an IPO in Hong Kong.