Baker & McKenzie (Gaikokuho Joint Enterprise) recently advised Sumitomo Mitsui Banking Corporation (SMBC) on the financing of the acquisition by Asahi Group Holdings, Ltd. (Asahi) of Carlton & United Breweries (CUB) from Anheuser-Busch InBev SA/NV (AB InBev).
Asahi agreed to purchase CUB and certain related Australian businesses from AB Inbev for AUD 16.0 billion on a cash-free, debt-free enterprise value basis (approximately JPY 1.21 trillion) on July 19, 2019, with closing expected to occur in the first quarter of 2020.
Gavin Raftery and Shinichiro Kitamura led the Baker McKenzie team on this deal, with the assistance of senior associate Emiko Horikawa.
“We are honoured by the opportunity to support SMBC and Asahi on this landmark transaction in a fast-evolving market," noted Kitamura. "In the long run, we are committed to helping Japanese companies grow and become more competitive globally.”Raftery, Chair of Baker McKenzie's Asia Pacific Regional Banking & Finance Group, added “This complex, multi-jurisdictional transaction once again demonstrates the strength and commerciality of Baker McKenzie's acquisition finance practice and we are delighted to have contributed to the smooth and successful execution of this transaction.”