AB InBev sells 49.9% stake in US metal container plants for $3bn

AB InBev has sold a 49.9% stake in its US-based metal container plants to an Apollo Global Management-led group for approximately $3 billion.

The deal, which closed at the end of 2020, saw the brewer divest a minority stake in the facilities to a consortium of investors led by private equity firm Apollo and its affiliates.

AB InBev says that the transaction aligns with its deleveraging commitments by generating proceeds to repay debt.

The brewer will retain operational control of the plants, and a long-term supply agreement will provide for its metal container needs over the duration of the relationship.

AB InBev will have the right, but not the obligation, to reacquire the minority stake after five years from the close of the transaction.

“Executing an institutional investment of this nature showcases Apollo’s unique ability to cut through complexity and use the strength of our platform to provide world-class companies with scaled, strategic solutions,” said Robert V. Seminara, senior partner and head of Europe at Apollo.

“We are pleased to invest alongside AB InBev in its leading US metal container business, supporting AB InBev’s strategic plans and its employees.”