Anheuser-Busch InBev said Friday that it had received conditional approval from Chinese regulators for its merger with SABMiller, after the companies agreed to sell SABMiller’s stake in the maker of Snow, the world’s best-selling beer. The conditional approval by Chinese authorities is the last major regulatory hurdle for the transaction. The merger would create an industry giant accounting for about 30 percent of global beer sales and would give Anheuser-Busch, already the world’s largest brewer, a substantial operation in Africa, where it has little presence, and greater dominance in Latin America. Anheuser-Busch InBev has received regulatory approval in 23 jurisdictions for the transaction, including China, the European Union, South Africa and the United States. In November, Anheuser-Busch InBev agreed to sell SABMiller’s 59 percent stake in MillerCoors in the United States to SABMiller’s partner in a joint venture, Molson Coors Brewing, for about $12 billion. In April, it accepted an offer by Asahi Group Holdings of Japan to buy the beer brands Grolsch, Meantime and Peroni, as well as associated SABMiller operations in Britain, Italy and the Netherlands, for about $2.8 billion. [...] Anheuser-Busch InBev also said in April that it would be willing to sell SABMiller’s assets in the Czech Republic, Hungary, Poland, Romania and Slovakia as part of a package of divestments to win approval from European regulators.
China Oks Beer Merger, Sabmiller Likes Ab Inbev’s New Bid
New York Times, San Francisco Chronicle: Business
Fri, 07/29/2016 - 5:12pm
Topics: snow latin america european union south africa in november millercoors molson coors brewing in april asahi group holdings japan grolsch peroni britain italy netherlands anheuser-busch inbev czech republic hungary poland romania slovakia anheuser-busch inbev chinese sabmiller s africa european united states sabmiller april china beer merger approval sell conditional regulators world agreed stake received regulatory transaction billion percent
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more