Octopus (APAC) (SGX:43A) subsidiary, Octopus Distribution Networks, has received termination notices from two Anheuser-Busch InBev entities regarding the distribution agreements for the Corona and Budweiser brands in Singapore.

The distribution agreements will be terminated effective Sept. 15, according to a Thursday filing with the Singapore Exchange.

The parties have signed separate termination agreements to facilitate an orderly wind-down, transition to a new distributor, sell-off of remaining inventory, and the settlement of outstanding amounts by Aug. 31.

Octopus said it remains in talks with the AB InBev entities on a proposed new sole distribution agreement for certain AB InBev brands in Singapore.