Anheuser-Busch InBev said Thursday it plans to sell its breweries in nine eastern European countries to CVC Capital Partners in a deal worth as much as $3.03 billion.

CVC, a London-based leveraged buyout firm, plans to buy the brewer’s operations in Bosnia-Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Romania, Serbia and Slovakia.

CVC has agreed to brew and/or distribute Stella Artois, Beck’s, Löwenbräu, Hoegaarden, Spaten and Leffe in these countries under license from A-B InBev.

A-B InBev will receive $1.68 billion in cash to start, with an additional $613 million coming in deferred payments and minority interests, and the possibility of $800 million later, depending on the unit’s future earnings.

InBev will retain rights to brew and distribute Staropramen in several countries, including Ukraine, Russia, the U.S., Germany and the U.K., and will have a right of first offer to reacquire the business should CVC decide to sell in the future.

The deal is expected to close by January.

The sale is the latest in a series of divestments that the world’s largest brewer has made to pay down debt from buying St. Louis-based Anheuser-Busch for $52 billion last year.

A-B InBev has now exceeded its goal to cut debt by $7 billion, Chief Executive Carlos Brito said Thursday.

Last week, A-B InBev announced plans to sell its 10 amusement parks to The Blackstone Group for up to $2.7 billion.

Earlier this month, A-B InBev wrapped a sale of its four metal beverage can and lid manufacturing plants to Ball Corp. for $577 million.

Last month, the brewer completed the sale of its Tennent’s Lager brand and associated assets in Scotland, Northern Ireland and the Republic of Ireland to C&C Group for $293.2 million.

In July, A-B InBev completed the sale of its Oriental Brewery Co. in South Korea to an affiliate of New York-based private equity firm Kohlberg Kravis Roberts & Co. for $1.8 billion.

And in June, the brewer sold its remaining stake in Tsingtao Brewery Co. Ltd. to Chinese billionaire Chen Fashu for $235 million.