🚀 ProPicks AI Hits +34.9% Return!Read Now

Bain exits race for SAB's Pilsner Urquell, other brands - sources

Published 06/12/2016, 18:47
Updated 06/12/2016, 18:50
© Reuters.  Bain exits race for SAB's Pilsner Urquell, other brands - sources
ABI
-
2502
-

By Pamela Barbaglia and Martinne Geller

LONDON (Reuters) - The field of bidders for SAB Miller's Central and Eastern European beer brands being sold by Anheuser-Busch InBev (BR:ABI) has narrowed after U.S. buyout fund Bain Capital walked away, sources told Reuters on Tuesday.

Acquisitive Japanese brewer Asahi Group (T:2502) is seen as being in the lead to buy the brands, which include Pilsner Urquell in the Czech Republic and Tyskie and Lech in Poland, the sources said.

The package is expected to fetch a price of around 6 billion euros ($6.4 billion), they added.

The other bidders are a consortium led by Swiss investment firm Jacobs Holding and PPF, the investment firm of Czech business tycoon Petr Kellner.

Bain's decision raises questions over whether Advent International, which was planning a joint bid with the U.S. buyout firm, would now be able to submit a competitive offer.

Two sources said Advent is scrambling to submit an offer by a Dec. 12 deadline for binding bids.

Representatives for AB InBev, Bain and Advent declined to comment.

($1 = 0.9402 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.