FILE PHOTO: Portfolio beer brands of Budweiser Brewing Company APAC Ltd are displayed during a news conference on the company's IPO in Hong Kong, China July 4, 2019. REUTERS/Andrew Geoffrey JacksonAndrew Geoffrey Jackson/Reuters
Anheuser-Busch InBev is considering selling off business units in South Korea, Australia and Central America to cut its massive debt, after cancelling a planned listing of its Asia-Pacific unit, the Wall Street Journal reported on Thursday.
The world’s largest brewer hopes to raise at least US$10-billion from asset sales, the Journal reported, citing people familiar with the matter.
Last week, AB InBev, which was aiming to sell as much as US$9.8-billion in stock to seek relief from its heavy debt burden, called off its listing of its Asia Pacific unit in Hong Kong citing “several factors, including prevailing market conditions.”
The company hopes to get its debt down to about US$80-billion.
In May, private equity firm KKR & Co. approached AB InBev about buying some of its Asian assets, the Journal reported, adding that Japanese brewer Asahi Group Holdings Ltd. had also expressed interest in buying the company’s Australia business.
AB InBev did not immediately respond to a request for comment.
U.S.-listed shares of the company rose 1.2 per cent to US$89.50 following the report.