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Japan's Asahi takes on 7.4 billion euro loans to fund AB InBev asset buy
March 28, 2017 / 9:07 AM / 8 months ago

Japan's Asahi takes on 7.4 billion euro loans to fund AB InBev asset buy

TOKYO (Reuters) - Japanese beer maker Asahi Group Holdings Ltd (2502.T) said on Tuesday it will take on 7.4 billion euros (6.36 billion pounds) in bank loans to finance its acquisition of European assets from Anheuser-Busch InBev SAC NV (ABI.BR).

A man walks past the logo of Asahi Group Holdings at the company's headquarters in Tokyo, Japan, May 17, 2016. REUTERS/Toru Hanai

The brewer, known for Japan’s best-selling “Super Dry” beer, in December agreed to buy a group of eastern European beer brands, including Pilsner Urquell, from AB InBev for 7.3 billion euros.

In a statement, Asahi said it will take on short-term loans from Sumitomo Mitsui Banking Corp (8316.T) and Mizuho Bank Ltd (8411.T).

Companies typically borrow on a short-term basis as bridging loans before securing permanent financing through, for instance, syndicated loans or bonds.

An Asahi spokesman said nothing has been decided about permanent financing.

Reporting by Taiga Uranaka; Editing by Christopher Cushing

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