Megabrew: Anheuser-Busch InBev and SABMiller tie-up due to close today

Francesca Washtell
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AB InBev is the brewer of global beer giant Budweiser (Source: Getty)

The £79bn Megabrew merger between Anheuser-Busch InBev (AB InBev) and SABMiller is due to become effective this evening, closing one of the UK's largest ever corporate deals.

The tie-up is due to come into effect at or around 7pm this evening (8pm Brussels time) and shares in the newly-merged company will list on Euronext Brussels, the Johannesburg Stock Exchange, the Mexico Stock Exchange and the ADSs arm of the New York Stock Exchange tomorrow.

SABMiller, the formerly FTSE 100-listed British drinks giant, will lose its name as a result of the merger. The company's shares de-listed from the London Stock Exchange last week.

Read more: SABMiller shares suspend trading on London Stock Exchange

Within the next couple of years its offices in Woking and Mayfair will also be disbanded, as the combined company's base will stay in Leuven, Belgium, while around 5,500 (roughly three per cent) of the combined workforce will also be offloaded.

To satisfy European antitrust authorities, former SABMiller brands Peroni, Grolsch and Meantime were sold to Asahi in April for £1.8bn. SABMiller's Central and Eastern European brands such as Pilsner Urquell are due to be sold once the deal closes.

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