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Empty pitcher

15 July 2019 By Dasha Afanasieva

Cancelling the IPO of its Asian unit leaves CEO Carlos Brito with few options to quickly reduce net debt of $102 bln. Flogging Budweiser and Corona should bring borrowing below 2 times EBITDA, but not until 2023. The deal-happy group has no choice but a period of abstention.

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