General World News

The maker of Budweiser is selling off its $11 billion Australian business after a failed IPO (BUD)

AB InBev shares

  • Anheuser-Busch InBev, the brewer of Budweiser and Bud Light, is selling is Australia business to Asahi Group Holdings.
  • Asahi Group is paying $11 billion for brands including Foster’s and Carlton and United Breweries in a move that will help the company expand internationally.
  • The deal announcement comes after AB InBev canceled a planned initial public offering for its Asia business. That would have been the largest worldwide IPO of 2019.
  • Shares of AB InBev rose 4.5% early Friday on the news.
  • Watch AB InBev trade live.

Anheuser-Busch InBev — the maker of Budweiser — is raising $11 billion through read more >>>

Source:: BusinessInsider.Com