- 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.