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Breaking pre-market news on Wednesday,
- Socgen rules out capital hike, Q3 beats forecasts – statement.
- Next warns clothing prices will have to rise because of speculative bubble in cotton — statement.
AB InBev sells assets to CVC
Anheuser-Busch InBev has agreed to sell its central European operations to buy-out group CVC for up to $3bn. The deal is the latest non-core asset to be sold after last year’s $52bn merger of the US’s Anheuser-Busch and Belgium’s InBev.
Weekend catch-up
In case you missed these stories:
- Blackstone nears $3bn theme parks buy
US buyout group Blackstone is expected to buy 10 theme parks from brewing group AB InBev, in a $3bn deal that could be sealed on Monday.
After KKR and Kirin, deals hot up in Asia-Pacific
Private equity may be at least staggering – if not roaring – back to life in the Asia-Pacific region after Thursday’s news that KKR is buying AB InBev’s South Korean Oriental Brewery for $1.8bn.
The deal,
KKR to buy AB Inbev Korea unit
US buyout firm KKR is is buying Anheuser-Busch InBev’s South Korean beer unit for $1.8bn, reports Bloomberg. AB InBev, formed in a $52bn merger last year, and KKR plan to announce the deal Thursday, according to people with knowledge of the matter. The Belgian brewer is seeking to sell $7bn of assets to help repay $45bn of borrowings taken on to fund last year’s acquisition of Anheuser-Busch.
KKR leads race for Oriental Brewery
US buyout firm KKR has emerged the clear favourite to acquire Oriental Brewery, the South Korean brewer owned by Anheuser-Busch InBev. KKR has been named preferred bidder by AB InBev, after it raised its bid to about $1.9bn,
Lotte rejoins bid for InBev unit
Lotte Group, the South Korean retail conglomerate that was a favourite to acquire Anheuser-Busch InBev’s Oriental Brewery unit, has rejoined bidding for the asset after being briefly ejected from the process.