3rd Nov 2015 06:30
LONDON (Alliance News) - US-Canadian brewer Molson Coors Brewing Co has entered into advanced talks to buy SABMiller PLC's majority stake in the MillerCoors joint venture, the Financial Times reported, citing sources close to the talks.
The move is seen as a critical deal for securing regulatory approval for Anheuser-Busch InBev's GBP68.0 billion takeover of London-listed SABMiller. AB InBev controls 46% of the US beer market, while MillerCoors controls 27%, meaning any combination of the two would certainly raise competition concerns there.
The talks come ahead of the Wednesday deadline for AB InBev to make a formal takeover bid for SABMiller or walk away from the deal.
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By Sam Unsted; [email protected]; @SamUAtAlliance
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