Private equity: CVC picks up $2.2bln beer tab

In a sign that central and eastern Europe is increasingly on the radar screens of even the biggest private equity firms, CVC Capital Partners completed its first deal in the region in December. CVC Capital Partners, which manages companies with annual sales of more than $125 billion, is buying the central and eastern European operations of Anheuser-Busch InBev (ABI), one of the world’s largest brewers, in a deal worth an initial $2.2 billion. As part of the purchase agreement, though, CVC has the right to increase its investment by $800 million in line with returns made on the initial acquisition.