Argentina: Production ministry approves AB InBev, CCU brands swap in Argentina

Argentina’s production ministry approved Anheuser Busch InBev NV plan to divest its brands in the country, the Global Legal Chronicle reported on May 18.

Cleary Gottlieb Steen & Hamilton, Rosso Alba, Francia & Asociados, McDermott Will & Emery and Marval, O’Farrell & Mairal advised on the transaction.

As part of the proposal from AB InBev and CCU, which has operations in Argentina, AB InBev would transfer the Isenbeck, Diosa, Norte, Iguana and Baltica brands, as well as the licenses to Warsteiner and Grolsch, to CCU. In turn, CCU would give the Argentina rights to the Budweiser brand to AB InBev in exchange for a payment of up to $400 million over three years.

Anheuser-Busch InBev SA/NV manufactures alcoholic beverages. The company, led by Carlos Alves De Brito, Luis Felipe Pedreira Dutra Leite and Miguel Patricio in 2017 recorded €50 billion Revenues.

Compañía Cervecerías Unidas S.A. operates as a beverage company principally in Chile, Argentina, Bolivia, Colombia, Paraguay, and Uruguay.

18 May, 2018