Altria Backs AB InBev's Business Combination With SABMiller - Quick Facts

(RTTNews) - Altria Group, Inc. (MO) announced it fully supports Anheuser-Busch InBev's proposed business combination with SABMiller. Altria currently owns approximately 27% percent of SABMiller's ordinary shares outstanding. At closing, Altria expects to receive an approximately 10.5% stake in the new, combined company and approximately $2.5 billion in cash, subject to proration.

AB InBev has announced its firm offer to effect a business combination with SABMiller plc in a cash and stock transaction valued at approximately $107 billion. Altria expects the transaction to provide it with two seats on the new company's board, continue the use of equity accounting for the beer asset's contribution to Altria's earnings.