AB InBev: results beat, to explore listing of Asian unit
(CercleFinance.com) - Beer giant Anheuser-Busch InBev posted better-than-expected quarterly results on Tuesday, and said that it is "actively exploring" a minority stake listing of its Asia business on the Hong Kong Stock Exchange.
AB InBev said the listing of this Asia Pacific (APAC) "champion" will depend on a number of factors, including valuation and market conditions.
The Brussels-based brewer - which owns the Budweiser, Stella Artois and Beck's brands - also said that the listed unit could provide an "attractive platform" for potential M&As in the area.
The announcement comes after the company had a strong start to the year, with healthy volume growth of 1.3% and margin expansion.
Revenue rose by 5.9% in the quarter, while EBITDA increased by 8.2% due to the group's premiumization and cost discipline efforts, it said.
The shares were up 0.4% on Euronext Brussels after these announcements.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
AB InBev said the listing of this Asia Pacific (APAC) "champion" will depend on a number of factors, including valuation and market conditions.
The Brussels-based brewer - which owns the Budweiser, Stella Artois and Beck's brands - also said that the listed unit could provide an "attractive platform" for potential M&As in the area.
The announcement comes after the company had a strong start to the year, with healthy volume growth of 1.3% and margin expansion.
Revenue rose by 5.9% in the quarter, while EBITDA increased by 8.2% due to the group's premiumization and cost discipline efforts, it said.
The shares were up 0.4% on Euronext Brussels after these announcements.
Copyright (c) 2019 CercleFinance.com. All rights reserved.