Megabrew deal: Ab InBev says yes to takeover SABMiller

Anheuser-Busch InBev’s shareholders have approved the $104 billion takeover of rival SABMiller at a general meeting in Brussels. It's the third largest deal, with the merger between the first and the second global group.

The deal was given the thumbs up by more than 95% of SAB shareholders who voted. AB InBev chief executive Carlos Brit said: “We are pleased that our shareholders' vote brings us one step closer to combining our companies, teams, strong heritage and passion for brewing”, before announcing that the name Anheuser-Busch would remain.

AB InBev has already indicated that it will cut around 5,500 jobs after it completes the takeover, slashing about 3% of its enlarged staff over three years following the tie-up.

SABMiller employs about 70,000 employees in more than 80 countries, while AB InBev has about 150,000 staff in 26 countries, according to company figures.

The merger would create a drinks behemoth with global superiority likely to give rise to anti-competition issues. The giant must sell all of SabMiller activities in the United States, including participation in MillerCoors, while the EU antitrust green light is related to the sale of almost all European activities.

However, Ab InBev agreed to sell the 49% stake held by SabMiller in Snow Breweries, the leading brewer in the Asian country, to obtain the endorsement of the Chinese authorities.