Key Moments
- AB InBev will repurchase a 49.9% stake in its U.S. metal container plants from a consortium led and/or advised by Apollo Global Management Inc. for an estimated $3 billion.
- The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions, and to be earnings-per-share accretive in the first year after completion.
- AB InBev plans to finance the buyback entirely with cash on hand and said the move is consistent with its capital allocation framework.
AB InBev Exercises Repurchase Right
Anheuser Busch Inbev SA NV (EBR:ABI) said on Tuesday that it has moved to buy back a minority stake in its U.S. metal container operations, exercising a contractual right to repurchase the holding from a consortium of institutional investors led and/or advised by affiliates of Apollo Global Management Inc.
The brewer expects the price of the 49.9% stake to be approximately $3 billion. The company said it anticipates the transaction will boost earnings per share in the first year after the deal closes.
Asset Scope and Strategic Role
The stake covers AB InBev’s U.S.-based metal container plant operations, which encompass seven facilities located across six states, according to the company. AB InBev did not provide the specific locations of these facilities or further operational information.
In a statement, the company emphasized the strategic importance of these assets, saying: “Our US-based metal container plant operations include seven facilities across six states and are a strategic component of our business, ensuring quality, cost efficiency, speed of innovation and supply security for our brands, while providing industry-leading manufacturing jobs and driving economic growth in communities across the U.S.”
Financing, Timing, and Capital Framework
AB InBev said the repurchase will be financed using cash on hand. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions.
The company noted that the buyback is aligned with its capital allocation framework and reiterated that it expects the move to be accretive to earnings per share in the first year following completion. AB InBev did not provide additional financial guidance, including margin impacts or other projections.
Ownership History and Disclosures
AB InBev stated that it held a contractual right to reacquire the minority interest but did not specify when the stake was originally sold or the terms of that earlier transaction.
For 2024, AB InBev reported revenue of $59.8 billion, excluding joint ventures and associates.
Transaction Snapshot
| Item | Detail |
|---|---|
| Company | Anheuser Busch Inbev SA NV (EBR:ABI) |
| Asset | U.S. metal container plant operations |
| Stake repurchased | 49.9% |
| Counterparty | Consortium of institutional investors led and/or advised by affiliates of Apollo Global Management Inc. |
| Estimated purchase price | $3 billion |
| Number of facilities | Seven |
| States covered | Six |
| Funding source | Cash on hand |
| Expected closing | First quarter of 2026 (subject to customary closing conditions) |
| EPS impact | Expected to be accretive in year one after completion |
| 2024 revenue | $59.8 billion (excluding joint ventures and associates) |
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