Brewer AB InBev raises offer for SABMiller

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BRUSSELS: The world’s top brewer Anheuser-Busch InBev raised its offer for rival SAB Miller on Tuesday after a major slump by the British pound due to the Brexit vote threw the blockbuster deal into doubt.

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In a statement, the Belgium-based brewer of Budweiser and Stella Artois said it raised the cash offer from 44 pounds per share to 45 pounds in what was its final proposal.

The transaction values SABMiller’s entire “issued and to be issued” share capital at around £79 billion ($103 billion), ABInbev said.

AB InBev agreed in November to buy SABMiller whose brands include Foster’s, Grolsch and Peroni.

The deal is expected to boost world-leader AB InBev’s prospects in developing markets in Africa and China, where a SABMiller joint venture produces Snow — the world’s best selling beer by volume.

AB InBev’s acquisition of the London-based SABMiller was valued at $121-billion when it
was announced in November and in line to be the third largest in history if it clears all regulatory hurdles.

AFP

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