Budweiser and Stell Artois, brands from beermaker Anheuser-Busch InBev.
Photo: EPA/Dirk Waem
Anheuser-Busch InBev’s £79billion takeover of rival SAB Miller is set to be completed.
The mega-deal was approved by both firms and the deal is expected to be completed on 10 October, creating the world’s largest beer firm.
AB InBev will drop the SABMiller name and begin trading as a combined company on 11 October.
Global regulators have already approved the deal, which AB InBev says will create ‘the first truly global brewer.’
The deal was agreed last year, in principle, as we reported back in October. However, in July AB InBev was forced to raise its offer following a fall in the pound in the wake of the Brexit vote. AB InBev increased its offer by £1 a share to £45 a share.
With this deal now concluded it will no doubt boost AB InBev’s prospects in developing markets in the United States and China.
AB InBev employs 155,000 people in 25 countries, while SABMiller employs 69,000 people in 83 countries.
© FoodBev Media Ltd 2020