Kohlberg Kravis Roberts, the PE giant seems has emerged as ”favourite” to acquire Oriental Brewery, the South Korean brewer the FT reported.
KKR has been named the preferred bidder after weeks of negotiations and deal making. Its bid of 1.9Bn$ is significantly ahead of that of MBK Partners, a Korean PE firm.
It was purchased by InBev in 1998. Today OB produces several of Korea’s most popular beverages including the OB, Cass and Cafri lager brands.
FT reports that KKR’s bid seems to be a knockout blow to Lotte group, the South Korean reatil giant that was once considered “preferred” to buy OB as it wanted to add to its grwing portfolio of beverage products.
