AB InBev has confirmed its plans to sell SABMiller’s two brands Peroni and Grolsch, in order to allay regulatory concerns over the £71bn merger of the two drink companies.
The sale of the two SABMiller brands will be initiated to address concerns raised by European competition authorities with regard to the domination of the two companies, in case the merger goes through.
Most likely buyers for the two brands could be private equity firms. Buyers may also include Heineken, Molson Coors and C & C Group, reported The Financial Times recently.
The two brands are believed to be worth around $1bn.
AB InBev is planning to sell its 16-year-old London craft brewer Meantime Brewing Company.
AB InBev has also agreed to offload SABMiller's majority holding in MillerCoors to Molson Coors for approximately $12bn, reported The Fortune.
Fortune quoted AB InBev as stating: "Like the previously announced disposal of the Miller business to Molson Coors, these steps reflect AB InBev's pro-active approach to addressing potential regulatory concerns."
Last month, the London-listed SABMiller had agreed to sell itself to Belgium-based brewer Anheuser-Busch InBev.
The boards of the two companies said they had reached agreement "in principle" on the core terms of a "possible recommended offer", reported the Guardian.
In September, it was reported that Anheuser-Busch InBev was seeking financing package of up to $70bn for its acquisition of SABMiller.
The company was said to be holding talks with 10 banks, which include Deutsche Bank AG, BNP Paribas SA and Societe Generale SA, reported Bloomberg.
