The plan was first communicated on 15 October and the value of the sale is approximately USD 2.2 billion, with additional rights to a future payment estimated to be as much as USD 800 million - contingent on the CVC Funds' return on their initial investment.

Included in the sale are AB InBev’s operations, to be renamed StarBev, in Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Romania, Serbia and Slovakia.

As part of the agreement, StarBev will continue to brew Stella Artois, Beck’s, Löwenbräu and Spaten and distribute Hoegaarden and Leffe in the above countries under licence from AB InBev.

AB InBev will also continue to brew Staropramen in Russia and Ukraine and to distribute it in several other countries including the US, Germany and the UK.

Barclays Capital and Lazard acted as financial advisors to AB InBev and Clifford Chance acted as legal advisor. Freshfields acted as legal counsel to CVC.