AB InBev completes sale of Tennent's

Shaun Weston30 Sep 2009

Anheuser-Busch InBev has announced that it has completed the previously announced sale of Tennent's Lager brand and associated trading assets in Scotland, Northern Ireland and the Republic of Ireland to C&C Group plc for a total enterprise value of £180m.

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 programme 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.

Source: Anheuser-Busch InBev