The Asia-Pacific unit of Anheuser-Busch InBev SA is seeking to raise as much as $9.8 billion in what could be the biggest food and beverage IPO globally.
Budweiser Brewing Company APAC Ltd., the Asia-Pacific business of the world’s biggest brewer with a market capitalization of nearly $151 billion, will launch bookbuilding for its Hong Kong IPO later Tuesday, ahead of a planned debut on July 19, people familiar with the matter said.
Budweiser Brewing’s fundraising will make it the world’s largest food and beverage IPO, beating Kraft Foods Inc.’s $8.68 billion IPO in 2001, according to Dealogic.
Budweiser Brewing, which operates a portfolio of more than 50 brands including Budweiser, Stella Artois and Corona, counts China, Australia, South Korea, India and Vietnam as its major markets in the region.
AB InBev said in early May that the listing would create an Asia-Pacific consumer-goods champion and provide a vehicle for potential mergers and acquisitions in the region. JPMorgan and Morgan Stanley are joint sponsors of the deal.
By Joanne Chiu
Nestle SA has accelerated its product development process by 60% since 2016, according to the company. The faster speed to market has been achieved through a restructuring of its research and development process. Now the company is investing in various forms of artificial intelligence (AI) and machine learning to further improve its R&D process and generate better results.
German chemicals distributor Brenntag has confirmed potential takeover talks with US rival Univar Solutions and is understood to be debating the feasibility of a potential acquisition in the coming months. Univar Solutions confirms that it has received a preliminary indication of interest from Brenntag regarding a potential transaction.
Cargill has announced the acquisition of Owensboro Grain Company, a soybean processing facility and refinery located in Kentucky. The purchase of the Owensboro-based company will support Cargill’s efforts to “modernise and increase capacity across its North American oilseeds network to support growing demand for oilseeds driven by food, feed and renewable fuel markets”.