InBev SA, acquiring American beer giant Anheuser Busch Cos., had to
postpone a $9.8 billion rights issue due to "unprecedented volatility in the global capital markets, particularly during the last week." The Belgian brewer is waiting for markets to stabilize.
InBev said the deal will still close at year's end and reconfirmed:
the strong support of its bank group, who has provided the financing for the transaction on the basis of certain funds commitments and complete loan documentation for both the $45 billion acquisition facility and the $9.8 billion equity bridge facility. The equity bridge facility has a postclosing maturity of six months, within which period InBev may tap the equity markets at any time.
STLtoday.com reported that analysts said InBev's
falling stock price may have spurred executives to put the stock-issuing plan on hold.
Another report quoted Merrill Lynch & Co. analysts as saying
InBev may bring in "strategic investors" to help pay for the purchase after postponing the stock sale. -
Baz Hiralal
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