AB InBev gets China blessings for SABMiller takeover
Anheuser-Busch InBev’s (AB InBev) bid to take over SABMiller Plc and create a monolith brewer moved one step closer on Friday when China’s Ministry of Commerce gave the proposed merger a clearance.
AB InBev has since welcomed the conditional approval of China’s Ministry of Commerce of the company’s proposed combination with SABMiller plc.
In a statement, AB InBev said the Ministry of Commerce’s approval was a significant milestone for the transaction.
AB InBev agreed to sell SABMiller’s 49% stake in China Resources Snow Breweries to China Resources Beer, which currently owns 51% of CR Snow, in a bid to achieve the Ministry of Commerce’s conditional approval
AB InBev said this was consistent with its approach to proactively addressing potential regulatory concerns.
This divestment, which was previously announced between AB InBev and China Resources Beer, is conditional on the successful closing of the combination of AB InBev with SABMiller.
Following previously announced clearances in the EU, South Africa and the United States, all of the preconditions to the proposed combination have now been satisfied.
AB InBev, the maker of Budweiser, Stella Artois and Corona, has now obtained approval in 23 jurisdictions.
In the remaining jurisdictions where regulatory clearance is still pending, AB InBev will continue to engage proactively with the relevant authorities to address their concerns in order to obtain the necessary clearances as quickly as possible.
The brewer said it would continue to focus on taking the necessary steps in preparation for completing the combination as quickly as possible.
On Tuesday, AB InBev sweetened its bid by increasing its offer for SABMiller by £1 a share to £45 in cash, responding to investor concerns over the effect of the falling pound.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
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