Sun InBev, the Russian subsidiary of Anheuser-Busch InBev, is to raise up to RUB22bn (US$692.3m) in a private share sale, according to local reports.
Part of the money will be used to repay debts over the acquisition of three Ukrainian breweries in the early 2000s, RBC Daily said today (16 November). SUN InBev could not be reached for comment, or to confirm the report.
SUN InBev is the third-biggest brewer in Russia with about 15% of the market. A-B InBev said in its YTD results earlier this month it has lost market share in Russia, and in August the company announced the closure of a brewery in Kursk.
An analyst recently told just-drinks A-B InBev should cash in on the US$4bn-valued Russian subsidiary because it is “losing critical mass” and takes up too much management time.