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Anheuser-Busch InBev will not proceed with its planned listing of its Asia Pacific unit on the Hong Kong Stock Exchange, citing several factors including "prevailing market conditions".

The regional business, known as Budweiser Brewing Company APAC, has a portfolio of more than 50 beer brands including Stella Artois, Corona Budweiser and Hoegaarden. AB InBev was marketing shares with an indicative range of HK$40-$47.

Budweiser APAC was looking to raise between US$8.3-$9.8 billion through the float, mainly to go towards paying down debt at its parent company. Buying rival SABMiller in 2016 saw AB InBev with a US$100 billion debt.

The company said it would closely monitor market conditions.

Meanwhile, there has been speculation this week that Japanese beverage company Asahi is considering buying Carlton & United Breweries from AB InBev for AUS$6-7 billion.

 

 

Packaging News

Global metal packaging manufacturer Jamestrong opened a new $15 million, future-proofed, can making facility in Auckland, New Zealand last night, catering to the burgeoning infant formula market. PKN was there.

Full year results for packaging giant Orora have with underlying net profit after tax (NPAT) up 4 per cent to $217m, earnings before interest and tax (EBIT) 3.7 per cent higher to $335.2m and earnings per share (EPS) up 3.7 per cent to 18 cents per share.

Pact Group has cited the drought, weaker demand from the agri and food & beverage sectors, and higher raw material and energy costs as contributing to the FY19 loss.