The Canadian PressJanuary 20, 2014 08:30
AMSTERDAM - Belgium's AB InBev, the maker of Budweiser and Labatt beers, says it has agreed to repurchase South Korea's Oriental Breweries from private equity firms for US$5.8 billion.
Oriental Breweries — known for the Cass brand, South Korea's biggest seller — was sold in 2009 to KKR and Affinity Equity Partners after the combination of InBev with U.S.-based Anheuser-Busch.
In the meantime, AB InBev and Oriental Breweries continued to work together on a commercial level. OB had the South Korean distribution rights for brands such as Budweiser, Corona and Hoegaarden.