CCU Proposes Changes to Argentinean Beer Portfolio; Shares Still Trading Around Fair Value
On Sept. 6, narrow-moat CCU announced that it had made an offer to Anheuser-Busch InBev to terminate its license of the Budweiser brand in Argentina early. In exchange, CCU would receive a one-time payment of $306 million and become the owner of the Isenbeck, Diosa, Norte, Iguana, and Báltica brands in Argentina that in aggregate management estimates to have volumes similar to Budweiser. We do not anticipate these arrangements will significantly change our $25 fair value estimate, which calls fo...
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