Anheuser-Busch InBev to acquire Korean brewery for $5.8B

Anheuser-Busch InBev (NYSE: BUD) is slated to buy back South Korea’s Oriental Brewery for $5.8 billion as part of its efforts to increase its footprint in Asia, according to Fox News.

Private equity firms Kohlberg Kravis Roberts & Co. LP (NYSE: KKR) and Affinity Equity Partners acquired Oriental Brewery in 2009 with the understanding that InBev could repurchase the company by July 2014, Fox reports. AB InBev originally sold Oriental Brewery, which makes Cass beer, to help pay down debt following its $52 billion takeover of Anheuser-Busch in 2008. The South Korean brewery also held an exclusive license to distribute Budweiser, Corona and other AB InBev brands in South Korea.

The final estimated price is roughly three times the $1.9 billion the equity firms paid for the company five years ago.

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