InBev hiccup.

InBev has hit a bit of a financial bump in the road on its takeover of Anheuser-Busch but says the deal with still go through by year’s end. You often hear that sort of thing in this situations but that really seems to be the case this time.

Here’s Harry Schuhmacher in a late afternoon Beer Business Daily Alert yesterday:

This thing is changing by the minute. InBev just announced that it is postponing the rights offering that was designed to help fund the acquisition of Anheuser-Busch citing “unprecedented volatility in the global capital markets.” The offering was intended to raise the $9.8 billion to buy it some time to sell off other assets.

However, InBev still expects to close the deal by the end of 2008 and said the postponement will not affect completion. InBev also said it has the the strong support of its bank group, who has provided the financing for the transaction on the basis of certain funds commitments and complete loan documentation for both the $45 billion acquisition facility and the $9.8 billion equity bridge facility.

“The Board of Directors will continue to monitor market conditions to determine the appropriate time to launch the rights offering,” InBev said in a statement.

InBev CEO said: “The proposed combination between Anheuser-Busch and InBev will achieve value for our shareholders and create opportunities on a global basis for our consumers, employees, business partners, wholesalers and the communities they serve. We are moving forward confidently and expect to complete the combination of these two great companies by the end of the year to create the world’s leading brewer.”

This morning, Harry adds that Bottom line: Deal is still full steam ahead, noting that the Belgian conglomerate  can finance the $10 billion still necessary to complete the deal with a bridge loan for six months and then can either sell off some assets or revive the stock issue or work out a combination of the two.

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