It's only been days since the collapse of its planned share sale... Now AB InBev is back with a different, even bigger deal.
The world's largest brewer is selling its Australian operations to Japanese rival Asahi.
It's a deal valued at just over 11 billion dollars.
When completed it will make Asahi the world's number three beermaker.
It gains brands like Victoria Bitter.
As for AB InBev, it gets money to pay down some of its 100-billion dollar debt mountain.
But the maker of Corona and Budweiser isn't ruling out another stab at an IPO for its Asia-Pacific unit.
The Hong Kong share sale was supposed to raise almost ten billion dollars.
That would have made it the year's biggest listing.
But sources say investors balked at the price.
Now selling off the Australian breweries may actually help.
That country is a rich but slow-growing market for beer.
Without it, the firm's remaining Asia-Pacific operations are more focused on fast-growing markets like China.