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Post date: 06/01/2016 - 17:15

Canada okays Anheuser-Busch InBev’s SABMiller buy, Molson Coors’ MillerCoors move

Canada is the latest country to approve Anheuser-Busch InBev's takeover of SABMiller, as well as Molson Coors' proposed buyout of SAB's stake in the MillerCoors joint-venture in North America.

The country's Competition Bureau said on May 31, 2016 that it has issued a "No-Action Letter" to AB InBev and Molson Coors. Once complete, AB InBev will take ownership of SAB's Foster's Lager and Castle Lager brands in Canada, with Molson Coors set to purchase the rights to various Miller brands, including Miller Genuine Draft and Miller Lite.

Canada is the latest country to approve Anheuser-Busch InBev's takeover of SABMiller, as well as Molson Coors' proposed buyout of SAB's stake in the MillerCoors joint-venture in North America.

The country's Competition Bureau said on May 31, 2016 that it has issued a "No-Action Letter" to AB InBev and Molson Coors. Once complete, AB InBev will take ownership of SAB's Foster's Lager and Castle Lager brands in Canada, with Molson Coors set to purchase the rights to various Miller brands, including Miller Genuine Draft and Miller Lite.

AB InBev already owns Labatt in Canada, through its AmBev unit. Labatt and Molson Coors are the country's two largest brewers.

"The Bureau concluded that the proposed acquisition of SABMiller by AB InBev, with the immediate divesture of certain Miller brands to Molson Coors were not likely to substantially lessen or prevent competition in any relevant market in Canada," the Competition Bureau said.

Yesterday's announcement coincided with confirmation out of South Africa that the Competition Commission has approved Anheuser-Busch InBev's takeover of SABMiller, provided the merged entity sells SAB's stake in Distell.

AB InBev hopes to complete the US$107bn purchase of SAB by the end of 2016.