Brewer to sustain its competitive pace until the transaction closes
TORONTO, Nov. 16, 2015 /CNW/ - On November 11, AB InBev and SABMiller announced they had reached an agreement to proceed with a recommended proposal for the acquisition of SABMiller by AB InBev. The SABMiller Board intends to recommend that shareholders vote to approve the transaction. AB InBev also announced an agreement with MolsonCoors for the divestiture of SABMiller's interests in the MillerCoors Joint Venture and global ownership of Miller Trademark brands, conditional upon close of the SABMiller/AB InBev transaction.
The SABMiller AB Inbev deal is currently expected to complete, and the "change of control" to happen, in the second half of 2016. However, as the timing of regulatory approvals across global markets can be uncertain, SABMiller and AB InBev have agreed to a final deadline for change of control in May 2017, which they could agree to extend further if necessary.
In the meantime, SABMiller, AB InBev and MolsonCoors remain competitors.
"Our primary mission when we started was to elevate the conversation in Canada about great beer and what it takes to make superior brands that deliver exceptional taste. We remain steadfast in this pursuit," said Paul Verdu, Managing Director, SABMiller Canada.
"Canadian consumers have responded beyond expectations to Miller Genuine Draft and the launch of Miller Lite, and we have every intention of sustaining this strong momentum well into 2016. Our job is to continue to build these great brands in Canada, along with our international premium brands Grolsch, Peroni and Pilsner Urquell, so they remain strong for years to come," added Verdu. SABMiller Canada will keep customers and consumers updated as the transaction progresses; full details of the announcement are available in the "AB InBev Offer" section of www.SABMiller.com.
About SABMiller Canada
SABMiller Canada is a subsidiary of the second largest brewer globally SABMiller plc. SABMiller plc is a FTSE-10 company, with shares trading on the London Stock Exchange, and a secondary listing on the Johannesburg stock exchange. The SABMiller group operates in more than 80 countries with around 70,000 employees. The group's brand portfolio includes leading local brands such as Aguila (Colombia), Castle (South Africa), Miller Lite (USA), Snow (China), Victoria Bitter (Australia) and Tyskie (Poland) as well as global brands such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch. Every minute of every day, more than 140,000 bottles of SABMiller beer are sold.
SOURCE SABMiller Canada
For further information: Richard Farnsworth, Group Media Relations, SABMiller plc, Tel: +44 7734 776 317; George Hudson, Business Media Relations Manager, SABMiller plc, Tel: +44 20 7659 0191