InBev's Deleveraging Highlights Bleak Macro Outlook For CEE

Belgium-based AB InBev - the world's largest brewer - has put a number of breweries up for sale in Central and Eastern Europe (CEE) as part of its ongoing deleveraging process geared at freeing up cash to repay debt incurred in its US$52bn acquisition of Anheuser-Busch. The proposed divestment will see eleven breweries put up for sale in a packaged deal. CFW notes that AB InBev has been deleveraging actively in 2009. In May 2009, it sold its South Korea-based subsidiary Oriental Brewery for US$1.8bn and has also given up its sizeable equity stake in Chinese beer giant Tsingtao.

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