Megabrew is done: AB InBev’s £79bn takeover of SABMiller completes October 11, 2016 Anheuser-Busch InBev completed its tie-up with British drinks behemoth SABMiller last night, combining to form the world's biggest brewer in a £79bn merger. The new company, which will continue to trade under AB InBev's name, will have operations "in virtually every major beer market". AB InBev chief exec Carlos Brito said: As a truly global brewer, we [...]
Megabrew: Anheuser-Busch InBev and SABMiller tie-up due to close today October 10, 2016 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, [...]
Yum Brands blames drop in Chinese sales on South China Sea crisis October 5, 2016 KFC parent company Yum Brands said today that its earnings and revenues missed analysts' expectations in the third quarter. Its adjusted earnings per share of $1.09 on revenues of about $3.3bn. Both measures missed analysts' forecasts for $1.10 per share and $3.5bn respectively. Read more: Hungry suitors circle Pizza Hut as owners put the restaurant chain up [...]
Time Out is close to signing a deal for new “flagship” London food market October 5, 2016 Time Out – the magazine publisher that recently listed on the London junior market – is expected to announce it has leased premises for a London food market in coming weeks, City A.M. understands. The group is close to signing a deal for a location thought to be around Kings Cross, Covent Garden, or Camden. The London food [...]
Megabrew merger between AB InBev and SABMiller inches closer as SAB shares suspend trading on London Stock Exchange October 5, 2016 Shares in British drinks giant SABMiller suspended trading on the London Stock Exchange this morning as the Megabrew merger between SAB and Belgian beer giant Anheuser-Busch InBev inches closer. Yesterday, the UK's High Court gave its approval to AB InBev's £79bn takeover and the holding company for the combined company, Newbelco, listed 1.7bn shares on the Johannesburg [...]
Megabrew holding company lists in Johannesburg as SABMiller prepares to leave the London Stock Exchange October 4, 2016 The holding company for the Megabrew merger listed on the Johannesburg Stock Exchange (JSE) today, while SABMiller shares will be suspended in London tomorrow morning ahead of the long-awaited tie-up. Newbelco SA/NV, which will be renamed Anheuser-Busch InBev SA/NV when the £79bn takeover completes next week, listed 1.7bn new ordinary shares on the main board [...]
Deutsche Bank shares plunge to new record low in fresh morning turmoil September 30, 2016 Deutsche Bank shares have crashed another eight per cent this morning as the German stock markets opened for trading. The lender was plunged into fresh turmoil last night as a string of key clients said they were cutting back on the amount of assets they store with the lender, raising fears some in the market [...]
City Moves for 30 September 2016 | Who’s switching jobs September 30, 2016 KPMG KPMG has appointed Paul Martin as UK head of retail. Paul will succeed David McCorquodale who has led KPMG’s retail practice in the UK since November 2012 and will be retiring at the end of April 2017 after 32 years with the firm. Paul is managing director of KPMG Boxwood and was formerly managing director of Planet Retail, [...]
Cheers: SABMiller shareholders vote in favour of AB InBev’s £79bn Megabrew takeover September 28, 2016 SABMiller investors have given the green light to Anheuser-Busch InBev’s £79bn Megabrew merger. Minority shareholders for the FTSE 100 drinks giant voted overwhelmingly in favour of the deal, one of the largest in corporate history, with more than 95.5 per cent of votes cast in support. All shareholder hurdles for the mega-merger have now been passed, [...]
Analysts fear Deutsche Bank could become Europe’s Lehman Brothers September 27, 2016 The misery for Deutsche Bank continued this morning as shares continued to slide to fresh record lows. The German lender has seen its share price lose 30 per cent in the last three weeks and was hit by a new round of selling this morning, as shares dropped 3.3 per cent to €10.20 (£8.86). The latest slide [...]