AB Inbev to sell S.Korean brewery to KKR for 1.35 billion euros
The Belgian based group will use the money to repay debt incurred in the purchase of Anheuser-Busch.
The Belgium-based group, however, said it will still have links with the subsidiary by granting KKR exclusive licenses to distribute certain brands in South Korea including Budweiser, Bud-Ice and Hoegaarden.
Proceeds generated from the divestiture will be used to repay debt incurred during InBev's acquisition of US beer giant Anheuser-Busch in November 2008, the company said in a statement.
Anheuser-Busch InBev also posted Thursday a first quarter net profit of 716 million dollars, nearly doubling the figure from the same period last year when it reported a 373 million dollar gain.