AB InBev agrees to sell SAB Miller’s China market to Chinese government
Belgian beverage giant AB InBev says it will allow a Chinese Government owned company to acquire SABMiller’s Chinese beer business if AB InBev itself can acquire SABMiller.
AB InBev last week revealed it will allow China Resources Beer Holding Co. to purchase SABMiller’s 49 per cent interest in Chinese beer company CR Snow. China Resources Beer Holding has owned the other half of the company since 1994.
China Resource Beer Holding will be required to pay US$1.6 billion to take complete control of CR Snow.
The acquisition is however dependent on AB InBev’s ability to acquire SABMiller for approximately US$108 billion. AB InBev says it is confident this acquisition will be approved and finalised before the end of 2016.
“The agreement with China Resources Snow Breweries is conditional on the successful closing of the recommended acquisition of SABMiller by AB InBev as announced on 11 November 2015, which itself contains certain regulatory pre-conditions and conditions,” a statement from AB InBev said.
AB InBev is the largest beer company in the world and is responsible for over 200 beer brands. Some of its beers are sold in Australia through third-party distributors include Corona, Stella Artois and Budweiser.
SABMiller has an 89 per cent market share of the South African beverage industry. In
The Australian Competition and Consumer Commission (ACCC) is currently investigating the proposed acquisition of SABMiller by AB InBev.
Could dried ‘meat bars’ be just as popular as chocolate bars?
A group of scientists are warning that bananas could become a delicacy within ten years unless a sol...
Despite operating in Australia for less than a decade, Costco is already making its presence known a...
Researchers based in Singapore have discovered how to teleport a glass of lemonade.
Australian publicly-listed Retail Food Group is to expand its presence into Scandinavia after a Swed...
A new free trade agreement between Peru and Australia is set to benefit Australia’s wine and sugar e...
Police have seized 14, 000 bottles of fake Penfolds wine that was for sale in China.
Amazon Go opened to the public on Monday this week. The key question is what are they going to do wi...