Anheuser-Busch InBev has formally informed European Union antitrust regulators of its plan to sell SABMiller’s premium European brands to try to secure approval for its $100 billion-plus takeover of the London-based brewer.
The world’s top brewer has already struck a deal to sell the assets to Japan’s Asahi Group Holdings, a tactic aimed at staving off a possible lengthy investigation of the biggest ever deal in the consumer goods industry.
“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 U.S. rights,” an AB Inbev spokeswoman said.
The European Commission said it would now decide by May 24 whether to clear the deal, a filing on its website showed without giving further details.
The EU competition enforcer will seek feedback from rivals and other third parties before deciding whether the offer is sufficient to allay regulatory worries.
The SABMiller acquisition would allow AB InBev, maker of Budweiser and Stella Artois, to expand into countries such as Colombia and Peru and crucially, Africa.
AB Inbev is also selling SABMiller’s stake in U.S. joint venture MillerCoors to Molson Coors Brewing and SABMiller’s stake in its CR Snow venture to China Resources Beer to address competition concerns in other regions.
By Foo Yun Chee and Martinne Geller
Source: Reuters
Temperature-controlled storage and logistic solution provider, Emergent Cold LatAm, has opened ‘Chile’s largest’ frozen food warehouse. Located in Talcahuano, a region renowned for its seafood and fruit production and exports, the warehouse represents a strategic enhancement of the local cold chain infrastructure.
Never Never gin will be sold through Asahi’s alcohol division, Carlton & United Breweries (CUB). According to the company, the acquisition – which won’t impact daily operations – will enable Never Never’s premium gin to reach a wider customer base while enhancing support and product offerings for existing customers.
Coca-Cola Europacific Partners (CCEP) announced today the forthcoming departure of Nik Jhangiani, senior vice president and chief financial officer, with plans underway to identify his successor. Jhangiani will be stepping down to assume the role of CFO at Diageo later this year.
