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Pouring it on

2 July 2019 By Alec Macfarlane

AB InBev values its Asian unit at up to $65 bln, or about 20 times EBITDA. That’s close to multiples of rivals in fast-growing emerging markets like China, but half the business is in slower, more mature ones. The IPO will seem less giddy if Carlos Brito pours on M&A next.

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