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Post date: 04/13/2016 - 09:35

European Commission sets Anheuser-Busch InBev, SABMiller deadline

The European Commission (EC) has confirmed an initial deadline for its review of Anheuser-Busch InBev's proposed US$104.2bn takeover of SABMiller.

The EC, which is the executive body of the European Union, has confirmed a "provisional deadline" of 24 May. In official documents, published late last week, the EC said it received notification of the deal on 30 March.

The European Commission (EC) has confirmed an initial deadline for its review of Anheuser-Busch InBev's proposed US$104.2bn takeover of SABMiller.

The EC, which is the executive body of the European Union, has confirmed a "provisional deadline" of 24 May. In official documents, published late last week, the EC said it received notification of the deal on 30 March.

Interested third parties will have until 17 April to submit observations.

AB InBev has already made several preparatory moves to appease competition regulators. "To the European Commission, we are proposing the sale of part of SABMiller's European business to Asahi Group Holdings," a spokesperson for AB InBev told just-drinks today: "This proposal concerns the European premium brand families of Peroni, Grolsch and Meantime and their associated businesses in Italy, the Netherlands, UK and internationally (excluding certain US rights)."

AB InBev confirmed in February that it had received an offer from Asahi to buy the SAB brands for EUR2.55bn (US$2.87bn). Asahi was granted a "period of exclusivity" related to the purchase, which, AB InBev flagged, is "conditional on the successful closing of the recommended acquisition of SABMiller by AB InBev".

Meanwhile, the brewer also confirmed to just-drinks that today's South Africa competition commission deadline would again be extended. A spokesperson for the commission said: "The merging parties have agreed to a 15-day extension. This extension expires on 5 May."