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AB InBev offers more SABMiller divestment pledges

29 April 2016 07:33

SABMiller has been informed by AB InBev that it has submitted an updated package of commitments to the European Commission (EC) in which it has offered to divest the entirety of SABMiller's businesses in Central and Eastern Europe.

This is in addition to the agreed sale of Peroni, Grolsch and Meantime and their related businesses to Asahi.

As part of AB InBev's updated package of commitments, the following businesses will be offered for sale: Dreher Breweries (Hungary); Kompania Piwowarska (Poland); Plzenský Prazdroj and Pivovary Topvar (Czech Republic and Slovakia); and Ursus Breweries (Romania). These businesses include a number of leading brands in their markets and AB InBev expects to attract considerable interest from potential buyers.

The proposed divestments are subject to review and approval by the EC. Any sale would be conditional upon completion of the AB InBev acquisition of SABMiller and will be carried out in the framework of the relevant social processes and ongoing dialogue with the employee representatives' bodies. Any sale will complete after the completion of AB InBev's proposed acquisition of SABMiller.

AB InBev's submission and updated package of commitments is part of its approach to proactively address potential regulatory considerations. In line with its ambition to complete the acquisition of SABMiller during the second half of 2016, AB InBev has offered these commitments in Phase 1 of the EC's enquiry. The EC is expected to publish the outcome of its Phase 1 investigation by 24 May.

Story provided by StockMarketWire.com

Related Company: SAB

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