AB InBev Completes $5.8 Bln Acquisition Of Oriental Brewery

(RTTNews) - Belgian brewer Anheuser-Busch InBev, known as AB InBev (BUD, AHBIF.PK) said that it completed the $5.8 billion acquisition of South Korean brewer Oriental Brewery, returning Oriental Brewery to the AB InBev portfolio after AB InBev selling it in July 2009.

Carlos Brito, CEO of Anheuser-Busch InBev, said, "We are excited to welcome the Oriental Brewery team back to the AB InBev family. We look forward to re-integrating OB into our global platform, as we endeavor to strengthen our position in the Asia Pacific region and continue growing our brands and providing additional consumer choice in South Korea."

In January 2014, AB InBev agreed to reacquire Oriental Brewery for $5.8 billion, as it aimed to strengthen its position in the fast-growing Asia Pacific region. The agreement with KKR & Co. L.P. (KKR) and Affinity Equity Partners returns Oriental Brewery to the AB InBev portfolio after almost five years.

Following the combination of InBev and Anheuser-Busch, AB InBev sold Oriental Brewery in July 2009, in support of the company's deleveraging target. AB InBev would reacquire Oriental Brewery earlier than July 2014, as it was originally entitled to under the 2009 deal.