AB InBev sold 49.9% stake in its metal container plants in the U.S.

AB InBev sold 49.9% stake in its metal container plants in the U.S.

AB InBev sold a 49.9% stake in its U.S.-based metal container plants to a group led by Apollo Global Management for about $3 billion.

The brewer will retain operational control of the plants and a long-term supply agreement that will cover its metal container needs for the duration of the relationship.

“Executing an institutional investment of this nature shows Apollo’s unique ability to overcome complexity and utilize the strength of our platform to provide world-class companies with scaled strategic solutions,” said Robert V. Seminara, senior partner and head of Europe at Apollo.

“We are pleased to invest alongside AB InBev in its leading U.S. metal container business, supporting the strategic plans of AB InBev and its employees.”