LONDON (Reuters) — Anheuser-Busch InBev’s shares have been suspended from buying and selling on Thursday pending the publication of a press launch, Belgium’s Monetary Providers and Markets Authority (FSMA) mentioned with out elaborating.
The information comes after U.S. cigarette maker Altria mentioned on Wednesday it could reduce its round 10% stake in AB InBev, the world’s largest brewer, promoting round 35 million shares. Belgian multinational AB InBev plans to purchase again $200 million price of shares.
AB InBev didn’t instantly present a touch upon the share suspension.
In its press launch on Altria’s deliberate sale, AB InBev mentioned the tobacco firm would stay a major shareholder and that it appeared ahead to an ongoing relationship.
“We stay disciplined in our capital allocation choices and collaborating on this providing is in line with our technique,” AB InBev CEO Michel Doukeris mentioned.
James Edwardes Jones, analyst at RBC Capital Markets, mentioned it was unsurprising Altria was promoting down its holding in AB InBev.
“On stability, we really feel that that is prone to act as a short-term brake on ABI’s share value however is of minimal longer-term significance,” he mentioned in a observe.
Regardless of a latest rally, the brewer’s share value nonetheless stays considerably decrease versus ranges seen within the final decade.
(Reporting by Emma Rumney; enhancing by Jason Neely)