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“There is, however, no decision as to whether we might undertake an IPO or any other potential transaction relating to our Asia Pacific business,” AB InBev said, adding it was committed to being a long-term investor in the region. Citi and BAML declined to comment. AB InBev’s Asia-Pacific region, whose main markets are China and Australia, last year made up 18 percent of group volume and 14 percent of underlying operating profit, which in turn rose 13 percent to $3.1 billion links of london cufflinks. The sources said AB InBev aims to spin-off the business to reduce its net debt, which stood at $102.5 billion at the end of December, a figure inflated by its late 2016 purchase of nearest rival SABMiller for around $100 billion..
AB InBev wants to bring its net debt/EBITDA (earnings before interest, tax, depreciation and amortization) ratio to around two times from a multiple of 4.6 at the end of last year links of london cufflinks. With that goal, it has halved its proposed dividend and said payouts will only grow slowly. While AB InBev’s shares have risen 19 percent since reporting forecast-beating earnings in February, the brewer is battling to reverse a longer share price decline. Over the past two years, its shares have fallen 24 percent, in contrast to rivals Heineken and Carlsberg, which have gained 15 and 28 percent respectively..
The IPO would not be the first time AB InBev has sold Asia-Pacific assets to reduce debt links of london cufflinks. After InBev bought Anheuser-Busch in 2008, AB InBev sold South Korean unit Oriental Brewery to private equity firm KKR – only to buy it back in 2014. The IPO is slated for the second half of the year and the brewer expects to file with the Hong Kong stock exchange in the first half, the people said. One of the people said the filing would happen either later this month or early May. At $5 billion, the IPO could be the largest in Hong Kong this year, where the flood of companies looking to go public has slowed to a trickle..
SHANGHAI (Reuters) – Volkswagen’s Chief Executive Herbert Diess said he was not among the Volkswagen executives being probed for fraud and breach of fiduciary trust after German prosecutors on Monday sought to press criminal charges against his predecessor. “I am not among the accused. I do not expect to be charged,” Diess said on the sidelines of a Volkswagen event at the Shanghai Auto Show on Monday. Prosecutors in Braunschweig, Germany, said on Monday they were pressing criminal charges against former Volkswagen Chief Executive Martin Winterkorn for fraud, breach of trust and breaching competition laws for failing to prevent polluting diesel cars being put on sale links of london cufflinks.
ZURICH (Reuters) – UBS shareholders should oppose discharging the board and top management of Switzerland’s biggest bank from liability after a guilty verdict in a French tax evasion case, proxy adviser Institutional Shareholder Services (ISS) said. “A vote against the formal discharge of the board of directors and senior management is warranted on a precautionary basis, as the company was recently found guilty of illegal solicitation and laundering the proceeds of tax evasion by a French court,” ISS said in a statement received by Reuters on Monday, ahead of UBS’s May 2 annual shareholders meeting links of london cufflinks.