• Source: Getty
    Source: Getty
Close×

Anheuser-Busch InBev will not proceed with its planned listing of its Asia Pacific unit on the Hong Kong Stock Exchange, citing several factors including "prevailing market conditions".

The regional business, known as Budweiser Brewing Company APAC, has a portfolio of more than 50 beer brands including Stella Artois, Corona Budweiser and Hoegaarden. AB InBev was marketing shares with an indicative range of HK$40-$47.

Budweiser APAC was looking to raise between US$8.3-$9.8 billion through the float, mainly to go towards paying down debt at its parent company. Buying rival SABMiller in 2016 saw AB InBev with a US$100 billion debt.

The company said it would closely monitor market conditions.

Meanwhile, there has been speculation this week that Japanese beverage company Asahi is considering buying Carlton & United Breweries from AB InBev for AUS$6-7 billion.

 

 

Packaging News

Visy has developed a new fibre-based, thermal insulation solution called Visycell, which could help drive the shift away from expanded polystyrene in the food delivery supply chain.

The imminent US$13bn merger of Amcor and Berry Global will result in a new leadership set-up under CEO Peter Konieczny, for the business which will have 400 packaging plants and 75,000 staff.

Pro-Pac Packaging's trading results for the first three months of this calendar year show it has continued to perform below expectations. The company has now brought in a business turnaround specialist.