The European Commission (EC) has approved the proposed acquisition of JSE-listed SABMiller by Anheuser-Busch InBev (AB inBev).
“EC approval in Phase I of the European Union merger review process is a significant milestone for the deal in keeping with AB InBev’s ambition to secure the necessary regulatory approvals that will allow for closing in the second half of 2016,” AB InBev said on Wednesday.
To gain EC approval, AB InBev agreed to sell its Peroni, Grolsch and Meantime brands and their associated businesses in Italy, the Netherlands, the UK and internationally, to Tokyo-based brewery and soft drink producer Asahi.
AB InBev also proposed the sale of SABMiller’s businesses in central and eastern Europe, which may be be sold to one or two buyers and could be completed after closing of AB InBev’s proposed combination with SABMiller.
AB InBev said it had gained clearance for the SABMiller acquisition in 14 jurisdictions and that it would continue to engage proactively with the relevant authorities in jurisdictions where regulatory clearance was still pending, to obtain those clearances as soon as possible.