SABMiller USD 10bn sale of Miller Coors stake expected Wednesday alongside AB InBev takeover announcement
SABMiller (LSE:SAB) is understood to be preparing to announce the sale of its 58% Miller Coors stake on Wednesday 11 November, The Sunday Times reported. The unsourced report said the USD 10bn-plus sale to Molson Coors (NYSE:TAP), SABMiller’s partner in the Miller Coors venture, is on track for announcement this week.
The deal is regarded as key to securing competition regulators’ approval for SABMiller’s takeover by rival brewery group AB InBev (LSE:BUD), the report said. An announcement of that deal is also expected to be made on Wednesday, unless an unexpected obstacle emerges, the item reported, noting that two deadline extensions have already been issued by the Takeover Panel.
Sunday Times