SABMiller, AB InBev merger to cross final hurdles, conclude by Oct
JSE-listed SABMiller and multilisted Anheuser-Busch InBev (AB InBev) continue to steadily tick off preconditions and jurisdictional approvals in a landmark deal that will see the two companies merge to form a global beer conglomerate by October.
In a joint statement on Tuesday, the duo announced that the aim was to combine the businesses by October 10 following a planned UK court hearing as part of the UK scheme of arrangement on August 22.
“The expected timetable envisages publication of the UK scheme document, as well as the other key transaction documents on August 26 [and] shareholder meetings of AB InBev and SABMiller being held on September 28 [before] the completion of the combination on October 10,” the breweries said.
The completion of the merger remains subject to a number of conditions, including approval by AB InBev and SABMiller shareholders.
At the UK scheme directions hearing, SABMiller intends asking the UK court to treat the South Africa brewery’s two largest shareholders Altria and Bevco as a separate class from all other SABMiller shareholders, allowing the different classes to vote or agree to the UK scheme separately.
The treatment as one class will mean that all SABMiller shareholders will vote together in one meeting.
Meanwhile, AB InBev said it would file on Tuesday with the Brussels commercial registry to have Newbelco SA/NV merged into AB InBev.
“The Belgian merger comprises one of the three key steps in the implementation of the combination,” AB InBev noted.
The parties would list the combined conglomerate on the Euronext Brussels, with secondary listings on the JSE and the Mexico Stock Exchange and the listing of Newbelco American depository shares on the NYSE.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...
VISIT SHOWROOM
From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
