Nirgunan Tiruchelvam Head of Consumers Equity Research
August 01 2019
Australian beer disposal could be a ‘Boon’ for Asian brewers
In 1989, the former Australian cricketer David Boon downed 52 cans of beer (nearly 20 litres) on a flight from Sydney to London. Australian beer consumption has fallen since those heady days. Beer consumption per capita has halved from 500 bottles per head in 1975 to 224 in 2017. The Australian beer business is far less effervescent than in its heyday.
Hence, Anheuser-Busch InBev's (ABI BB) recent disposal of its Australian business (Carlton & United Breweries) to Asahi for US$11.3bn is a positive move. It comes close on the heels of last month's postponement of the US$9.8bn IPO of ABI BB's Asian business (styled Budweiser APAC)...
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