A month after Anheuser-Busch InBev cleared one huge regulatory hurdle in gaining approval for its $107 billion SABMiller merger with the sale of SABMiller’s half of China’s largest brewer, the beer behemoth is looking to appease regulators on other continents. This time it happens to be the European Union and the sale of premium brands Peroni and Grolsch.
Reuters reports that AB InBev formally notified EU antitrust regulators that it plans to sell SABMiller’s stake in the brands to Japan’s Asahi Group for about $2.9 billion in order to receive quick approval for the billion-dollar merger.
“This proposal concerns the European premium brand families of Peroni, Grolsch and Meantime and their associated businesses in Italy, the Netherlands, UK and internationally, excluding certain U.S. rights,” an AB Inbev spokeswoman said of the deal that had previously been rumored.
The EU says it will either approve the deal by May 24 or open a longer investigation into the proposed merger.
Regulators say they will seek feedback from rivals and other third parties before making a final decision, Reuters reports.
News that AB InBev is willing do sell off the premium brands is the company’s latest move to pave the way for regulatory approval.
In March, the company announced it had sold SABMiller’s stake in CR Snow, maker of one of the world’s bestselling beer brands, to Japan’s for just $1.6 billion. The betrothed companies previously reached a deal to sell SABMiller’s stake in the Miller/Coors brand to Molson Coors for $12 billion.
AB Inbev offers concessions in bid to win EU okay for SABMiller buy [Reuters]
by Ashlee Kieler via Consumerist
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