KKR, Affinity to Sell Oriental Brewery Back to AB InBev for US$5.8 Billion (Asia)

Source: Kohlberg Kravis Roberts & Co.

Global investment firm Kohlberg Kravis Roberts & Co. (KKR) and Asia-focused private equity firm Affinity Equity Partners have entered into an agreement with brewing company Anheuser-Busch InBev (AB InBev) whereby AB InBev will reacquire Oriental Brewery, a South Korea-based brewery, from KKR and Affinity for US$5.8 billion. This agreement returns Oriental Brewery to the AB InBev portfolio, after AB InBev sold the company in July 2009, following the combination of InBev and Anheuser-Busch, in support of the company’s deleveraging target. The transaction is subject to regulatory approval in South Korea, as well as other customary closing conditions, and is expected to close in the first half of 2014.