Belgian beer giant AB InBev has decided to cancel the IPO of its Asian branch: demand for the stock was expected to disappoint due to its launch price, which American investors thought was too high. The supposedly biggest FMCG flotation of all time therefore is no more.
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On July 19th, AB InBev's Asian branch will be listed on the Hongkong stock market. The beer giant offers 1.6 billion shares at a rate of 40 to 47 Hongkong dollars (4.5 to 5.3 euros) per share.
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Beer brewery AB InBev has acquired the remaining shares of Babe Wine, a company that sells wine in cans. The beer corporation's innovation branch had already invested in the trendy American wine brand earlier on.
AB InBev is going to shift the production of its Budweiser beer for the French market to Belgium, at the Stella Artois brewery in Leuven. The current installations can not cope with the growing demand in France.
The Belgian Tax Office claims 30.44 million euros of tax money from brewery group AB InBev. On Friday, two court cases will be brought before the Dutch-speaking court of first instance in Brussels, despite an existing tax deal.
The European Commission has fined AB InBev 200 million euros because the brewery group has been abusing its dominance in the Belgian beer market, forcing consumers to pay too much for its flagship beer Jupiler between 2009 and 2016.
AB InBev has found growth again: after several years of stagnation, turnover increased slightly in the first quarter. However, a shadow over these positive results is EU commissioner Margrethe Vestager's threats of a fine for abuse of its dominant position in Belgium.
Kraft Heinz CEO Bernardo Hees is to step down on 30 June after a difficult time for the FMCG producer. He will be replaced by Miguel Patricio, currently Chief Marketing Officer at AB InBev.
Olivier Goudet is resigning as chairman of AB InBev due to a possible conflict of interest. He has opted to remain the CEO of JAB Holdings (which includes Douwe Egberts and Keurig Dr. Pepper), and feels he can no longer combine that with his position in the brewery group.
Over the next two years, AB InBev will invest 42 million euros in the expansion of its bottling plant in Hoegaarden, Belgium. In this way, the world's biggest brewer hopes to support the wheat beer's international success.
AB InBev is looking for money to settle its substantial debts: the world's largest brewing company has managed to raise 13.5 billion euros with a new bond offering and is also considering to float its Asian branch.
2018's hot summer has boosted sales for brewers around the world. Heineken and Carlsberg are toasting their excellent results, while AB InBev is dealing with a South American hangover.
The food sector won't escape disruption, according to Nils van Dam of Duval Union Consulting. The increase in conflicts within the sector is no coincidence: the entire chain is under pressure, and FMCG companies will have to invest in data to survive.
Do Belgians pay too much for their own beer? The European Union thinks so: the EU wants to fine AB InBev for charging higher prices for Jupiler and Leffe in Belgium than in neighbouring countries.
Dutch brewery group Heineken has lowered its financial year's expectations as its profit suffers from increasing competition with AB InBev. Still, turnover and volume were able to take advantage of the beautiful weather in Europe.
In order to counter the decline of their success on the Russian market, Belgian beer giant AB InBev has placed its activities in Russia in a joint venture with Turkish Anadolu Efes.