AB InBev to list on Johannesburg Stock Exchange as mega-brew deal with SabMiller nears completion

 
Catherine Neilan
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South African investors say cheers (Source: Getty)

Belgian-based brewer Anheuser-Busch InBev has received the green light to list on the Johannesburg Stock Exchange ahead of its merger with SabMiller.

The firm said the move demonstrated its "commitment" to South Africa and the continent as a whole "which will be a critical driver of future growth for the company" after the merger.

Once listed, AB InBev's ordinary shares will be tradable by South African resident investors without reference to their foreign portfolio allowances and will be classified as 'domestic' for exchange control purposes.

AB InBev chief executive Carlos Brito said: "We are pleased to announce our plans to establish a secondary inward listing of AB InBev on the JSE. The listing will provide us with access to the South African investor base and broaden participation in AB InBev's strong prospects for future growth.

"The secondary listing is also an important step towards our proposed combination with SABMiller, and signals our commitment to South Africa, and the African continent.

"We are excited about the prospects of making a significant investment in Africa, a region that will play a vital role in the future of AB InBev."

​SabMiller and AB InBev confirmed on 11 November that the £71bn mega-brew deal - the biggest ever British corporate merger - would go ahead.

SabMiller will delist from the London Stock Exchange and a number of cuts are expected to be announced as part of the move. Parts of the business, including Peroni, Grolsch and Meantime, will also be sold off.

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