In a recent international development Anheuser-Busch InBev has confirmed to take over its near rival SABMiller for $121 Billion. With this the seller of popular spirit brands like Beck’s, Budweiser and Stella Artois has finally agreed to buy London’s popular beer brand Foster’s, Miller Genuine Draft and Peroni.
InBev has decided to pay 44 pounds per share to SABmiller management .In another Industry move SABmiller has decided to sell its holding stake in MillerCoors , USA , for $12 billion to Molson Coors in order to win the regulatory approval.
“The boards of Anheuser-Busch InBev and SABMiller are pleased to announce that they have reached agreement on the terms of a recommended acquisition of the entire issued and to be issued share capital of SABMiller by AB InBev,” the board said in a joint statement .
The deal is said to finalize by mid of 2016 , subject to shareholder and regulatory approval.The deal if finalized would be the biggest deal in the brewer Industry in recent years . This deal is also said to be the biggest takeover ever by a British firm .
The deal would also place InBev at the top position across African and European market .It would also help them consolidate their position in Chinise market.