SABMiller and AB InBev agree takeover deal

13 October 2015 by
SABMiller and AB InBev agree takeover deal

Beer giants SABMiller and AB Inbev are set to merge after the former accepted a takeover offer from InBev worth £44 a share.

The increased offer in a deal worth approximately £70b will see AB Inbev's brands Budweiser, Stella Artois and Corona coming together with those of SABMiller including Peroni and Grolsch.

According to the BBC, SABMiller has a workforce of close to 70,000 people in more than 80 countries, and global annual sales of more than $26b. AB InBev has a workforce of 155,000 and global revenues of more than $47b.

The two companies have not yet formally finalised the deal, but the latest development means they have extended the City deadline for a firm offer until 28 October.

SABMiller, founded in Johannesburg in 1895, makes about 28% of its revenue in Africa.

Matthew Davies, a BBC business reporter in Johannesburg, commented: "As it stands, and if this deal goes through, it would mean that the merged entity would control 31% of global beer sales."

Carlos Brito, the chief executive of AB InBev, has said that Africa is a "key piece" of the deal.

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