24th May 2016 16:42
LONDON (Alliance News) - Anheuser-Busch InBev NV Tuesday welcomed the European Commission's approval of its takeover of SABMiller PLC, after agreeing the sale of a number of assets to Japan's Asahi Breweries Ltd.
To secure approval, AB InBev has proposed the sale of its Peroni, Grolsch and Meantime brands and their associated businesses in Italy, the Netherlands, the UK and internationally to Asahi. It also proposed the sale of SABMiller's businesses in Central and Eastern Europe, which can be sold to one or two purchases and can be completed after the closing of the deal.
These sales are conditional on the successful closing of the deal, and in the case of the Central and Eastern European businesses, on the commission's approval of suitable purchasers.
"We are very pleased with the positive decision of the European Commission. With this clearance, we remain firmly on track for a closing in the second half of 2016," said Chief Executive Officer of AB InBev Carlos Brito in a statement.
AB InBev said the approval is a "significant milestone" for its GBP71.00 billion deal for SABMiller, in keeping with its plan to secure the necessary approvals to complete the deal in the second half of 2016.
SABMiller closed down 0.1% at 4,267.78 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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