LOEWEN (dpa-AFX) - Anheuser-Busch said that it is not making an offer to purchase the remaining shares of Craft Brew Alliance (BREW), but its existing commercial partnership with Craft Brew Alliance continues to be a key complement to its craft portfolio. It continues to own a 31.3 percent stake in Craft Brew Alliance.
Craft Brew Alliance Chief Executive Officer Andy Thomas said, 'While disappointing, with this decision made, management can turn its attention to refining strategic alternatives to maximize shareholder value.'
Craft Brew Alliance confirmed that Anheuser-Busch has not made a qualifying offer to purchase the remaining shares of the Company as indicated in the 2016 International Distribution Agreement.
Anheuser-Busch confirmed it will be making a $20 million one-time incentive payment today. Craft Brew Alliance's existing Master Distribution Agreement remains intact through 2028, and the existing Contract Brewing Agreement and International Distribution Agreement remain intact through 2026.
Copyright RTT News/dpa-AFX
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