Bain Capital falls out of SAB race

The field of bidders for SABMiller’s Central and Eastern European beer brands being sold by Anheuser-Busch InBev has narrowed after US buyout fund Bain Capital walked away, sources say.

Acquisitive Japanese brewer Asahi Group is seen as a front-runner to buy the brands, which include Pilsner Urquell in the Czech Republic and Tyskie and Lech in Poland, they say.

The package is expected to fetch around €6 billion (R87 billion), they added. Other bidders are a consortium led by Swiss investment firm Jacobs Holding and PPF, the investment firm of Czech business tycoon Petr Kellner.

Bain was planning a joint offer with Advent International. Its departure raises questions over Advent’s ability to submit a competitive offer without a partner. Representatives for AB InBev, Bain and Advent declined to comment.

AB InBev wants to sign a deal by Christmas, the sources said. It is selling the brands as part of its $100 billion-plus (R1 362 billion) acquisition of SABMiller.