May 7/M2 EquityBites -- Anheuser-Busch InBev and Kohlberg Kravis Roberts & Co. L.P (KKR) announced that the companies have entered into an agreement under which Anheuser-Busch InBev will sell Oriental Brewery (OB), a large brewery based in South Korea, to an affiliate of KKR, for $1.8 billion.

Anheuser-Busch InBev will reportedly continue its relationship with OB through the exchange of best practices, granting KKR exclusive licenses to distribute certain brands in South Korea, including Budweiser, Bud-Ice and Hoegaarden, and by having an ongoing interest in OB through an agreed earnout.