AB InBev, the Belgian-Brazilian multinational drink and brewing company which owns brands including Budweiser, Stella Artois and Beck’s, took a $2.5 billion write-down in the value of its African operations due to market risks, as its Q2 earnings were significantly hit as a result of the Covid-19 pandemic.
Earlier this year, Australia’s competition watchdog (ACCC) approved the proposed sale of AB InBev’s Australian subsidiary, Carlton and United Breweries, to Asahi Group Holdings for AUD 16 billion ($11 billion). This gave Asahi the rights to brands such as Carlton Draught, Crown Lager, Budweiser, Strongbow and Bulmers.