Anheuser-Busch InBev has decided to sell 49.9% stake in its US-based metal container plants for approximately USD 3 billion to Apollo-led Consortium. The Consortium includes entities advised by Apollo and its subsidiaries and a group of institutional investors.
AB InBev will create additional shareholder value by “optimizing its business at an attractive price and generate proceeds to repay debt, in line with its deleveraging commitments,” according to Apollo Global Management.
“Executing an institutional investment of this nature showcases Apollo’s unique ability to cut through complexity and use the strength of our platform to provide world-class companies with scaled, strategic solutions,” said Robert V. Seminara, Senior Partner and Head of Europe at Apollo. “We are pleased to invest alongside AB InBev in its leading US metal container business, supporting AB InBev’s strategic plans and its employees.”
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Jamshid Ehsani, Senior Partner of Apollo said, “Apollo is uniquely positioned to provide efficient custom capital solutions to large corporations. Our platform has an unconstrained capacity and appetite for complex and creative transactions, which, combined with our size, scale and speed of execution, differentiates us from other platforms and enables us to execute unique transactions of size that align with the investment objectives of our insurance and institutional clients, including Athene.”
AB InBev will hold operational control of its plants and have the right, but not the obligation, to repurchase the minority interest beginning on the fifth anniversary of the close of the transaction, at pre-determined financial terms.
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