25 August, 2020

Japan & USA: Asahi to raise up to $1.5 bln in share offering to repay loans taken for CUB acquisition

Japanese beverage maker Asahi Group Holdings said on August 25 it would raise up to $1.5 billion in a share offering to help repay loans taken out to buy a beer company in Australia, Reuters reported.

The company said it would sell up to 157.5 billion yen in shares in Japan and the United States. The offering will be composed of about 20.9 million new shares, along with treasury shares and a secondary offering of stock.

Its $11 billion purchase of Anheuser-Busch InBev’s Australian business, Carlton & United Breweries, closed in June.

Asahi has been pursuing international growth due to a shrinking population and declining beer consumption at home.

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