Anheuser-Busch InBev Completes Sale of Tennent's Brand
The sale of these assets unlocks value for Anheuser-Busch InBev shareholders and is part of the company’s ongoing program to de-leverage the company as quickly as possible.
29 Sep 2009 --- Anheuser-Busch InBev has completed the previously announced sale of Tennent’s Lager brand and associated trading assets in Scotland, Northern Ireland and the Republic of Ireland (part of InBev UK Limited) to C&C Group plc (C&C) for a total enterprise value of £180 million.
As part of the agreement, Anheuser-Busch InBev has appointed C&C as distributor of certain AB InBev brands in Scotland, Northern Ireland and the Republic of Ireland, and C&C has granted Anheuser-Busch InBev the right to use the Tennent’s Super and Tennent’s Pilsner brands in certain worldwide geographies.
The sale of these assets unlocks value for Anheuser-Busch InBev shareholders and is part of the company’s ongoing program to de-leverage the company as quickly as possible. Lazard and Freshfields Bruckhaus Deringer LLP acted as financial and legal advisors, respectively, to Anheuser-Busch InBev.
