From SAB Miller:
SABMiller has been informed by Anheuser-Busch InBev SA/NV (“AB InBev”) that the European Commission has approved its recommended combination with SABMiller plc.
European Commission approval in Phase I of the EU merger review process is a significant milestone for the deal in keeping with AB InBev’s ambition to secure the necessary regulatory approvals that will allow for closing in the second half of 2016.
To achieve European Commission approval at this stage and consistent with AB InBev’s approach to proactively addressing potential regulatory considerations, AB InBev entered into an agreement for the sale of the Peroni, Grolsch and Meantime brands and their associated businesses in Italy, the Netherlands, UK and internationally (excluding certain US rights) to Asahi. The Commission has approved Asahi as the purchaser of these businesses today. AB InBev also proposed the sale of SABMiller’s businesses in Central and Eastern Europe (Czech Republic, Slovakia, Hungary, Poland and Romania).
The Central and Eastern European businesses can be sold to one or two purchasers and can be completed after closing of AB InBev’s proposed combination with SABMiller.
These divestments are conditional on the successful closing of the recommended combination of AB InBev with SABMiller, and in the case of the Central and Eastern European assets on the European Commission’s approval of the purchaser(s) as suitable purchasers.
With the European Commission clearance, the recommended combination of AB InBev with SABMiller has been cleared in 14 jurisdictions. Clearance decisions (some of which are subject to conditions) have now been obtained: in Asia-Pacific: Australia (both antitrust and foreign investment), India and South Korea; in South America: Chile, Colombia, and Mexico; in Africa: Botswana, Kenya, Namibia, Swaziland and Zambia; and in Europe: the EU, Albania and Ukraine. Approval in Ecuador is subject to certain conditions.
In the remaining jurisdictions where regulatory clearance is still pending, AB InBev will continue to engage proactively with the relevant authorities to obtain the necessary clearances as quickly as possible.
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