AB InBev-SAB Miller Deal Gains Shareholder Approval
28 Sep 2016 --- Anheuser-Busch InBev's $102.85 billion takeover of rival SAB Miller is set to go ahead after the shareholders of both firms approved the mega-deal. SABMiller shareholders overwhelmingly backed the brewer's takeover by Anheuser-Busch InBev on Wednesday, clearing the last big hurdle for one of the largest corporate mergers in history.
The combined group will sell more than a quarter of all beers sold worldwide and be the fifth largest consumer goods company. For the maker of Budweiser, Corona and Stella Artois it provides entry into Africa and large fast-growing Latin American markets such as Colombia and Peru.
It will also cut its revenue from mature markets North America and Europe to 37 from 47 percent.
AB InBev shareholders expressed their support for the Combination by passing all resolutions that were proposed in connection with the Combination.
Commenting on the shareholder vote, Carlos Brito, CEO of AB InBev said: “We are pleased that our shareholders’ vote brings us one step closer to combining our companies, teams, strong heritage and passion for brewing. We are committed to driving long-term growth and creating value for all our stakeholders.”
AB InBev also announces that the combined group will retain the name Anheuser-Busch InBev SA/NV following completion of the Combination, and therefore Newbelco SA/NV (“Newbelco”) will be renamed accordingly.
SABMiller Shareholders passed both of the resolutions at the UK Scheme Court Meeting and the SABMiller General Meeting held earlier today in connection with the recommended acquisition of SABMiller plc
At the UK Scheme Court Meeting, a majority in number of Scheme Shareholders, who voted (either in person or by proxy) and who together represented over 75% by value of the votes cast, voted in favour of the resolution to approve the UK Scheme. The resolution was accordingly passed. Altria and BEVCO have irrevocably undertaken to consent to the UK Scheme and did not vote at the UK Scheme Court Meeting.
At the SABMiller General Meeting, the special resolution to approve the UK Scheme and provide for its implementation was also passed by the requisite majority.
To contact our editorial team please email us at editorial@cnsmedia.com
Subscribe now to receive the latest news directly into your inbox.