The Anheuser-Busch InBev and SABMiller Merger- the third largest takeover in history
At around $108 billion (£44 for each share in SABMiller), this is the third largest deal in corporate history and the new company will produce an estimated one-third of all beer sold worldwide.
For obvious reasons, the merger is driven by prospects for expansion in developing countries, with a particular emphasis on Africa as a critical driver of growth for the combined company. As expected, the combination is more about exploiting the potential in Asian and African beer markets, and further strengthening Latin American operations.
The sale of SABMiller’s interest in its joint venture in the U.S., the home market for Anheuser, reflects how the merger is not really bringing anything new to AB InBev’s business in Anheuser’s home market. SABMiller is selling its 50% voting interest and 58% economic interest in MillerCoors to Molson Coors, its partner in the joint venture, for around $12 billion. The deal gives Molson Coors the global rights to the Miller brand, and also the right to continue selling brands it currently holds in its portfolio in the U.S. (MillerCoors).
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