Asahi drinks to US$7.8b brewing deal
Print Edition
ASAHI Group Holdings will buy a group of eastern European beer brands from Anheuser-Busch InBev for 7.3 billion euros (US$7.8 billion), boosting its presence in the region in the largest overseas beer deal by a Japanese brewer.
Anheuser-Busch InBev agreed to sell brands including Pilsner Urquell from the Czech Republic, Poland's Tyskie and Lech, Hungary's Dreher and Romania's Ursus to ease clearance from competition regulators for its US$100 billion takeover of SABMiller, finalized in October.
The deal, expected to close in the first half of next year, would be Asahi’s biggest acquisition.
It already bought SABMiller's Italian brand Peroni and Dutch beer Grolsch.
It was announced yesterday morning, less than 24 hours after the deadline for final bids, according to sources close to the matter.
Asahi said yesterday that the business had annual earnings before interest, tax, depreciation and amortization of 493.8 million euros in the year to the end of March.
Based on that figure, its bid represents a multiple of 14.8 times, which is higher than the 12 to 14 times brewing assets in mature markets often fetch.
It paid about 15 times EBITDA for Peroni and Grolsch, fueled in part by synergies with its existing business in Australia.
Asahi was widely seen as the frontrunner in an auction whose first round also included bids from a consortium led by Swiss investment firm Jacobs Holding, Czech investment firm PPF, China Resources and private equity firms Bain Capital and Advent International.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
