The maker of the Budweiser beer brand Anheuser-Busch InBev on Wednesday announced a deal to purchase its rival SABMiller for $107 billion.
The Belgian firm will pay about $67 per share, in cash, for most of the British-South African firm’s stock.
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“We are excited about our agreement on the terms of a recommended acquisition of SABMiller to build the world’s first truly global brewer, ” said Carlos Brito, AB Inbev’s CEO, in a statement.
“Our joint portfolio of complementary global and local brands would provide more choices for beer drinkers in new and existing markets around the world.”
The combined company will represent approximately 30% of global beer sales, industry experts say.