AB-InBev brands attract first bids
bdlive.co.za - Nov 9th 2016, 09:41
London/Warsaw — At least six indicative offers have been submitted by industry players and buyout funds for a group of beer brands being sold by Anheuser-Busch InBev (AB InBev), sources familiar with the matter said on Tuesday.
First-round bids for the brands, which include Pilsner Urquell in the Czech Republic and Tyskie and Lech in Poland, were due on Monday, according to the sources, who declined to be identified as the process is private. Worth more than €5bn, the brands were put up for sale as part of AB InBev’s $100bn-plus takeover of SABMiller that closed last month.
Japanese brewer Asahi Holdings and Czech investment firm PPF Group have submitted rival bids, while Hungarian energy group Mol has teamed up with Polish juice maker Maspex Wadowice Group and Polish insurer PZU group to table a joint offer, the sources said.
Private equity investors Bain Capital and Europe’s Advent have joined forces, while KKR has made a joint offer with Mid Europa Partners, the sources said. Another consortium includes Swiss investment firm Jacobs Holding and Canadian pension fund PSP Investments with additional backing from Czech family office R2G, the sources said.
Polish billionaire Sebastian Kulczyk has said he may use some of the proceeds from the sale of his stake in SABMiller to buy the central and eastern European beer brands.
The sources mentioned recent talks between Kulczyk and the KKR-led consortium but said the parties had so far failed to reach an agreement.
China Resources, which took full ownership of the Chinese joint venture it had with SABMiller, was also interested in the assets, according to the sources, but it was not immediately clear whether it has tabled a competitive bid.
European private equity firm BC Partners, which initially looked at the business, has dropped out of the process, they added.© Business Live MMXVI
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