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Asahi to borrow $11 billion for purchase of AB InBev's Australia unit

FILE PHOTO: Condensation collects on a glass of Asahi beer at a bar in Singapore October 23, 2015. REUTERS/Tim Wimborne

TOKYO (Reuters) - Japanese beer maker Asahi Group Holdings 2502.T said on Monday it would borrow 1.185 trillion yen ($11 billion) from Sumitomo Mitsui Banking Corp (SMBC) to pay for its acquisition of Anheuser-Busch InBev's ABI.BR Australian subsidiary.

Asahi said in a statement it had signed a contract on Monday for the loan from SMBC. The deal for the AB InBev subsidiary, Carlton & United Breweries (CUB), is set to close on June 1.

Reporting by Chris Gallagher; Editing by Tom Hogue

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