AB InBev buys South Korean brewery

The Belgo-Brazilian drinks company AB InBev has bought the South Korean brewer Oriental Brewery for Zuikoopt voor 4.28 billion euro. The Leuven (Flemish Brabant)-based company announced its lastest purchase in a press statement realeased on Monday. The price paid for to buy back Oriental Brewery is considerabley higher than what AB InBev sold the South Korean brewery for in 2009.

The price paid for to buy back Oriental Brewery is considerably higher than what AB InBev sold the South Korean brewery for in 2009.

In July 2009 AB InBev sold Oriental Brewery to the investment companies Kohlberg Kravis Roberts (KKR) and Affinity Equity Partners (AEP) that both had 50/50 stake. 

Now AB InBev is buying the brewer back for more than twice what it sold it for four and a half years ago. "Since the take-over in 2009 Oriental Breweries has become the biggest brewer in South Korea. This has been accelerated by the growth in popularity of it beer "Cass".

When Oriental Brewery was sold in 2009 a clause was put in the contract giving AB InBev the right to buy it back within five years.