InBev sells German Coca-Cola bottling unit

<p>Brewing giant InBev SA said Wednesday it was selling its 62.4 percent interest in German soft-drink bottling company Bremer Erfrischungsgetraenke GmbH to Germany's leading Coca-Cola bottler.</p><p>Belgium-based InBev said the sale to Coca-Cola Erfrischungsgetraenke AG was based on an enterprise value of $164 million. InBev acquired the Bremer bottling company in 2002 when it took over German brewer Beck & Co.</p><p>Coca-Cola Erfrischungsgetraenke accounts for almost 70 percent of Germany's Coke market and is 41 percent owned by Atlanta-based Coca-Cola. Although Bremer Erfrischungsgetraenke was an independent bottler, Coke accounted for over 90 percent of its business.</p><p>InBev, the largest global beer maker by volume with brands include Skol, Brahma, Sella Artois and Bass, said the sale would result in a one-time gain of about $20 million compared to the book value.</p><p>Selling will enable InBev to enhance its focus on its core German beer business, the company said.</p><p>It expects the transaction to close in September.</p>

http://accesswdun.com/article/2005/7/142611