The Independent Uganda: You get the Truth we Pay the Price
Back in July, AB InBev raised its offer for SABMiller to £45 a share from £44, after sterling slumped following Britain’s Brexit vote to leave the European Union.
The improved offer valued the London-headquartered SABMiller at the equivalent of £79 billion. InBev, based in Leuven in Belgium, had agreed in November last year to buy SABMiller.
The deal is expected to boost AB InBev’s prospects in developing markets in Africa and China, where a SABMiller joint venture produces Snow — the world’s best selling beer by volume.
To win EU approval, AB InBev has agreed to a long series of concessions, including the sale of SABMiller’s Peroni, Grolsch and Meantime brands to Japanese rival Asahi.
The EU also demanded the brewer also divest SABMiller’s business in the Czech Republic, Hungary, Poland, Romania and Slovakia.
AB InBev has already indicated that it will cut around 5,500 jobs after it completes the takeover, slashing about three percent of its enlarged staff over three years following the tie-up.
SABMiller employs about 70,000 employees in more than 80 countries, while AB InBev has about 150,000 staff in 26 countries, according to company figures.
