Conditions include the already-planned sale of SABMiller's 58% stake in MillerCoors in the US to Molson Coors. AB InBev is also required to divest worldwide Miller beer brand rights, the Justice Department said.
"The remedy we secured will help preserve and promote competition in the multi-billion dollar US beer industry," said Sonia Pfaffenroth, assistant attorney general in department's antitrust division.
AB InBev and MillerCoors account for about 70% of beer sold in the US and have share above 90% in some markets.
US acceptance of the deal follows the European Union antitrust regulator's approval on condition that AB InBev sells most of SABMiller's European business.
AB InBev - which makes Budweiser, Corona and Stella Artois - 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.
Source: AFP via I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
