Belgium: AB InBev secures shareholder approval for SABMiller deal
AB InBev’s takeover of SABMiller, worth in the order of $100 billion, is set to be concluded after the deal received approval from shareholders.
With the acquisition of SABMiller, AB InBev will hold 46% of global beer profits and 27% of global volume, according to a Wall St Journal report, simultaneously diminishing the company’s dependency on the US and increasing its presence inover 17 African countries.
To clear the way for the deal, AB InBev has been obliged to sell off a number of SABMiller assets in order to appease regulators in the US, China and Europe. In the US, AB InBev sold 58% of SABMiller’s interest in the MillerCoors LLC joint venture for $12 billlion, while in Europe its has agreed to sell global rights to the Italian beer Peroni and Dutch beer Grolsch to Asahi. In China, AB InBev sold SABMiller’s stake in the CR Snow brand for $1.6 billion.
Once the deal has been concluded, it is expected that there will be further sales of European beers in countries such as Hungary, Romania, Czech Republic, Slovakia and Poland, including the Czech beer Pilsner Urquell, the Wall St Journal reports.
Source: Wall St Jounral