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Post date: 05/25/2016 - 17:25

European Union clears Anheuser-Busch InBev, SABMiller deal

The European Union has approved Anheuser-Busch InBev's US$107bn takeover of SABMiller.

The two companies said on May 24 2016 that clearance from the EU's executive body, the European Commission, represents a "significant milestone" in the deal. The news moves AB InBev closer to its ambition to close the transaction in the second half of this year.

The European Union has approved Anheuser-Busch InBev's US$107bn takeover of SABMiller.

The two companies said on May 24 2016 that clearance from the EU's executive body, the European Commission, represents a "significant milestone" in the deal. The news moves AB InBev closer to its ambition to close the transaction in the second half of this year.

AB InBev has been proactive in warding off competition issues in the EU. In February, the company agreed to sell SAB's Peroni, Grolsch and Meantime brands to Asahi, conditional on the closing of the SAB deal. As well as the sale to Asahi, AB InBev proposed the divestment of SAB's Central & Eastern European businesses last month.

Following EC clearance, the deal has now been approved in 14 jurisdictions. According to SAB, clearance decisions have now been obtained in: Asia-Pacific - Australia (both antitrust and foreign investment), India and South Korea; South America - Chile, Colombia, and Mexico; Africa - Botswana, Kenya, Namibia, Swaziland and Zambia; and Europe - the EU, Albania and Ukraine. Approval in Ecuador is subject to "certain conditions", the companies said.