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
Source: MarketWatch
Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.
Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.
The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.
