Molson Coors Reportedly Nears Deal To Buy Remaining MillerCoors Venture

(RTTNews) - Molson Coors Brewing Co. (TAP-A, TAP) is nearing a deal to buy the rest of the MillerCoors LLC U.S. joint venture in a $12 billion deal that would pave the way for British brewer SABMiller Plc (SAB.L, SABMRY.PK) to cement its sale to Belgian brewer Anheuser-Busch InBev NV, or AB InBev (BUD, AHBIF.PK), the Wall Street Journal reported.

As part of the deal, SABMiller would sell its 58% of the venture to Molson Coors. The deal, which has been anticipated since SABMiller and AB InBev reached preliminary agreement on a $100 billion-plus merger in October, would include the Miller brand internationally, the report said.

The agreement is expected to be announced Wednesday along with a formal pact between SABMiller and AB InBev.

The deal would be conditioned on the larger beer deal closing, the repor said.