AB InBev Plans To Explore Sale Of SABMiller's Peroni And Grolsch Brands

(RTTNews) - British brewer SABMiller Plc. (SAB.L, SABMRY.PK) said Thursday that it has been informed by Belgian brewer Anheuser-Busch InBev NV, or AB InBev (BUD, AHBIF.PK) of its intention to explore the sale of a number of SABMiller's European premium brands in line with its commitment to promptly and proactively address potential regulatory considerations.

The brands include Peroni and Grolsch and their associated businesses in Italy, the Netherlands and the UK, and, given the brand's premium positioning, UK-based Meantime.

Any sale would be conditional upon completion of the AB InBev acquisition of SABMiller and would be subject to appropriate engagement with stakeholders, including employee representative bodies such as unions and works councils.

AB InBev will lead the process, in compliance with competition rules, and in line with the 11 November 2015 Co-operation Agreement between the two companies SABMiller will assist, including preparation of the relevant information for potential buyers.

Last month, Anheuser-Busch InBev formalized the offer to acquire SABMiller in a deal worth 71 billion pounds or about $107 billion. In a related deal, in order to avoid antitrust fears, SABMiller agreed to sell its 58 percent stake in its joint venture with MillerCoors to Molson Coors Brewing Co. (TAP-A, TAP) for $12 billion in cash.