AB InBev sells a share of the metal container manufacturing plants in the US
Sale of 3 billion dollars to a group led by Apollo Global Management
AB InBev sold a 49.9% stake in its U.S.-based metal container manufacturing facilities to a group led by Apollo Global Management for approximately $ 3 billion. The transaction, which closed at the end of 2020, saw the brewery sell a minority stake in the facilities to a consortium of investors led by affiliates of the private equity firm Apollo.
AB InBev says the transaction is in line with its deleveraging commitments in order to generate proceeds to repay the debt.
The manufacturer will maintain operational control of the plants and a long-term supply agreement will supply the Group with the metal containers it will need, for the duration of the relationship. AB InBev will have the right, but not the obligation, to repurchase the minority stake five years after the closing of the transaction.
"Executing an institutional investment of this nature shows Apollo's unique ability to eliminate bureaucratic complexity and use the strength of our platform to provide world-class companies with large-scale strategic solutions", said Robert V. Seminara , Apollo's senior partner and responsible for Europe.
"We are delighted to invest with AB InBev in its main metal container business in the United States, supporting the strategic plans of the company and its employees".
EFA News - European Food Agency