AB InBev and SABMiller to complete takeover by 10 October
Having finally concluded the pre-conditions to the merger just recently, on 29 July, SABMiller and Anheuser-Busch InBev (AB InBev) seem to also have settled on a date by when the takeover process will be complete – 10 October.
AB InBev approached SABMiller in September last year regarding a potential offer to purchase. AB InBev has since worked tirelessly to gain competition approval in 23 jurisdictions around the world, given that the deal will see the world's two largest breweries coming together in a R1.45 trillion deal.
The deal hit something of a stumbling block recently over concerns that the Brexit vote devalued it, causing AB In Bev to make a higher offer by one pound per share to £45, and also increase the amount of cash for those shareholders choosing a cash-and-stock alternative. While work on the deal was temporarily halted, it has since resumed, with most shareholders approving the increase.
AB InBev will next begin the process of forming a new company, Newbelco, by entering a document with the Brussels commercial registry, where the company is based.