Newspaper article International New York Times

Chinese Regulators Approve SABMiller Purchase

Newspaper article International New York Times

Chinese Regulators Approve SABMiller Purchase

Article excerpt

The approval represents the last major regulatory hurdle for the transaction, which values SABMiller at about $104 billion.

Anheuser-Busch InBev said on Friday that it had received conditional approval for its merger with the rival brewer SABMiller from Chinese regulators after the companies agreed to sell SABMiller's stake in the maker of Snow, the world's best-selling beer.

The approval represents the last major regulatory hurdle for the transaction, which values SABMiller at about $104 billion.

The merger would create an industry giant accounting for about 30 percent of global beer sales and would give Anheuser-Busch, already the world's largest brewer, a substantial operation in Africa, where it has little presence, and greater dominance in Latin America.

In order to win regulatory approval in China, Anheuser-Busch InBev agreed in March to sell SABMiller's 49 percent stake in the maker of Snow to China Resources Beer, a state-owned brewer, for about $1. …

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