Lotte Bows Out of Oriental Brewery Auction

HONG KONG (Reuters) – South Korean retail giant Lotte Group will not submit a final offer for Oriental Brewery (OB), a source said on Friday, opening the way for a private equity buyer for the country’s No. 2 beer company.

Anheuser-Busch InBev (INTB.BR), the world’s largest brewer and the owner of OB, is accepting final offers on Friday for the business, sources have said, which it values at more than $2 billion.

Affinity Equity Partners, Kohlberg Kravis Roberts & Co, and MBK Partners, backed by teams of bank lenders across Asia, are expected to submit final offers for OB.