AB InBev to buy South Korean brewery for $5.8bn

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Oriental Brewery1

Brussels - The world's largest brewer AB InBev on Monday announced a deal to buy South Korea's Oriental Brewery Co Ltd from KKR and Affinity Equity Partners for $5.8 billion (4.3 billion euros).

The deal brings Oriental Brewery, the leader in the South Korean beer market, back into the AB InBev fold after it was sold in 2009

during efforts to reduce the debt incurred in the merger of InBev and US brewer Anheuser-Busch.

“We are excited to invest in South Korea and to be working with the Oriental Brewery team again,” said AB InBev chief executive Carlos Brito in a statement.

“OB will strengthen our position in the fast-growing Asia Pacific region and will become a significant contributor to our Asia Pacific Zone,” he added. - Sapa-AFP

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