Canadian Mounties Emerge as Surprise Bidder for SABMiller’s Eastern European Lagers
08 Aug 2016 --- Canada's mounted police force has emerged as one of the surprise bidders in the race for SABMiller’s £4bn ($5.22bn) Central and Eastern European drinks brands.
PSP Investments, a Canadian pension fund manager which invests on behalf of the mounted police force, is one of a number of bidders for a portfolio of beers which are being sold off as part of Anheuser-Busch Inbev's takeover of SABMiller, according to a report in the Sunday Times newspaper.
According to the report, PSP has looked at a range of targets to build its business.
In February this year, PSP joined a consortium in a bid for London’s City Airport, but lost out to rival Canadian pension fund managers including Ontario Teachers' Pension Plan.
PSP’s interest in SABMiller’s beers is a surprise as the pension fund is usually interested in investing in infrastructure projects which are low risks.
PSP Investments declined to comment.
AB InBev offered to offload the British drinks brands in Hungary, Romania, Slovakia and Poland in April to help ease regulators concerns over the deal which has been dubbed “megabrew”.
Last week, AB InBev and SABMiller said the merger is expected to be completed on 10 October.
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