United States: AB InBev completes sale of its four metal can and lid manufacturing plants

Belgium-based brewing giant AB InBev announced on October, 1 that it has completed the previously announced sale of four metal can and lid manufacturing plants from AB InBev’s U.S. metal packaging subsidiary, Metal Container Corporation, to Ball Corporation for an aggregate purchase price of 577 million USD.

As part of the transaction, Ball Corporation has entered into a long-term supply agreement to continue to supply Anheuser-Busch InBev with metal beverage cans and lids from the divested plants. Ball has committed, as part of the acquisition agreement, to offer employment to each active employee of the plants.

The sale is part of AB InBev’s ongoing de-leveraging program and generates proceeds that will be used to pay down debt incurred as a result of the combination of InBev and Anheuser-Busch.

Deutsche Bank AG and Lazard Frères & Co. LLC acted as financial advisors and Sullivan & Cromwell LLP acted as legal counsel to Anheuser-Busch InBev.

02 October, 2009