10th Feb 2016 14:26
LONDON (Alliance News) - Anheuser-Busch InBev NV Wednesday confirmed that it has received an offer from Japan's Asahi Group Holdings Ltd to acquire a group of brands including Peroni and Grolsch from SABMiller PLC.
The brands are being sold as part of AB InBev's takeover of SABMiller, to address competition concerns about the mega-merger.
Anheuser-Busch said the offer values the Peroni, Grolsch and Meantime brand families at EUR2.55 billion on a cash-free, debt-free basis. The offer is conditional on the successful closing of the SABMiller takeover, which is expected to occur in the second half of 2016.
The brands and operations of Royal Dutch Grolsch NV, Birra Peroni, Miller Brands UK, the Meantime Brewing Company, and SABMiller's sales and marketing office in France are included in the scope of the binding offer.
The global rights to the Grolsch, Peroni and Meantime brands are also included in the scope of the binding offer, with the exception of the rights in the US for the Peroni and Grolsch brands.
"We are pleased to have received this binding offer from Asahi on the Peroni, Grolsch and Meantime brands and businesses - iconic beer brands with longstanding heritage and leading positions in core markets," said Chief Executive Officer of AB InBev Carlos Brito in a statement.
In a separate statement issued later, SABMiller Chief Executive Alan Clark said: "SABMiller has grown Peroni and Grolsch into world-renowned premium brands, and we are confident that, along with fast-growing modern craft brewer Meantime, they will continue to thrive and develop. These beers will continue to be part of SABMiller and sold and managed by us until the change of control."
This followed a report by the Nikkei Asian Review that Asahi was offering USD3.5 billion for the brands.
Shares in SABMiller were up 0.2% at 4,128.50 pence on Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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