BREAKING NEWS

BREAKING NEWS

Japanese brewer Asahi ready to spend "billions of dollars" on acquisitions

Now Reading:

Japanese brewer Asahi ready to spend "billions of dollars" on acquisitions

Text size Aa Aa

TOKYO (Reuters) – Asahi Group Holdings Ltd <2502.T> is ready to spend “billions of dollars” more on acquisitions, after having recently spent $11 billion (8.2 billion pounds) to acquire beer brands across Europe from Anheuser-Busch InBev NV <ABI.BR>, a top company executive said. Akiyoshi Koji, president of the largest beer maker in Japan, did not give any further details on how much Asahi was looking to spend on acquisitions. “If there are big investment opportunities, we can make big investments,” he told Reuters in an interview on Thursday. On possible targets, he said “bolt-on” acquisitions to boost the company’s European businesses, including beer makers and distributors, were a high priority. He did not give names. In Asia, global beer companies are closely watching Vietnam’s plan to sell a majority stake in beer makers Sabeco <SAB.HM> and Habeco <BHN.HM>. Koji said Asahi has been studying Sabeco but declined to comment further: “As a growth market, Vietnam is attractive, but our judgement will be based on whether the market fits our premium beer strategy.”

(Reporting by Taiga Uranaka and Ritsuko Shimizu; Editing by Himani Sarkar)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.