Brewer of Stella sells its Oz arm to Asahi

BEER behemoth AB InBev today agreed a A$16 billion

(£9 billion) sale of its Australian arm to Japan’s Asahi and said it hasn’t ruled out reviving a megafloat in Asia.

The Stella Artois and Budweiser brewer, weighed down by debt following its 2016 purchase of rival SABMiller, will use some of the proceeds from the disposal of Carlton & United Breweries to cut debts.

Last week AB

InBev, led by Carlos Brito (pictured), scrapped plans for a Hong Kong listing of its Asian division that would have been the year’s biggest IPO.

It said it “continues to believe” in the rationale for the float.