Financial Times FT.com

InBev postpones rights issue

By Julie MacIntosh in New York and Jenny Wiggins in London

Published: October 14 2008 20:23 | Last updated: October 14 2008 20:23

InBev postponed a $9.8bn (€7.2bn) rights offering on Tuesday that it hoped to use to finance its $52bn takeover of Anheuser-Busch, blaming “unprecedented volatility in the global capital markets”.

The Belgian brewer insisted that the move would not affect its plans to complete the deal by the end of the year and said it would monitor market conditions to determine when to launch the offering. It had set the date for its rights issue for October 3, immediately before last week’s worldwide equity markets rout.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this