ID :
57823
Tue, 04/28/2009 - 06:57
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https://www.oananews.org//node/57823
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KKR chosen as preferred buyer for AB InBev's Korean beer unit
SEOUL, April 27 (Yonhap) -- Kohlberg Kravis Roberts (KKR) Co., a U.S. private equity fund, has been chosen as the preferred bidder to take over Oriental Brewery, the South Korean unit of Belgium's Anheuser-Busch InBev NV, industry sources said Monday.
Anheuser-Busch InBev, the world's largest brewer and the parent company of South
Korea's second-largest brewer, selected KKR at a board meeting over two other
bidders, Affinity Equity Partners Ltd. and MBK Partners, according to the
sources. The Belgian firm plans to sell the South Korean firm to raise funds.
In the bidding that closed April 17, KKR raised the acquisition price to US$1.9
billion, the sources said.
Lotte Group, a South Korean retail and beverage conglomerate, dropped out of the
auction, citing the high price.
Oriental Brewery controls about 40 percent of the South Korean beer market,
following local rival Hite Brewery.
(END)
Anheuser-Busch InBev, the world's largest brewer and the parent company of South
Korea's second-largest brewer, selected KKR at a board meeting over two other
bidders, Affinity Equity Partners Ltd. and MBK Partners, according to the
sources. The Belgian firm plans to sell the South Korean firm to raise funds.
In the bidding that closed April 17, KKR raised the acquisition price to US$1.9
billion, the sources said.
Lotte Group, a South Korean retail and beverage conglomerate, dropped out of the
auction, citing the high price.
Oriental Brewery controls about 40 percent of the South Korean beer market,
following local rival Hite Brewery.
(END)
