Anheuser-Busch Will Buy Top Korean Beer Maker
Just the latest alcohol producer to change hands between East and West
The world’s largest beer brewer announced it’s buying top Korean beer maker Oriental Brewery in a $5.8 billion deal, as the game of musical chairs between alcohol producers in East and West continues.
For Belgian beer behemoth Anheuser-Busch InBev, it was a buy-back. It had originally sold South Korea’s premier brewery for $1.8 billion in 2008 to a private equity firm, and will now repurchase the much-expanded company for a higher price tag, said the Wall Street Journal. The $5.8 billion sale of the brewer to Anheuser-Busch by private equity firms KKR Co. and Affinity was the biggest private equity exit in Asia ever.
Oriental Brewery is South Korea’s name-brand beer maker, controlling 82 percent of industry profits, the WSJ reports. Earlier this month, a Japanese company announced it would acquire the quintessential American bourbon company Beam, maker of Jim Beam and Maker’s Mark.
[WSJ]
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Read more: Anheuser-Busch To Buy Korea's Oriental Brewery | TIME.com http://business.time.com/2014/01/20/anheuser-busch-will-buy-top-korean-beer-maker/#ixzz2qxOXSH1d
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