EU gives green light to AB-InBev’s takeover of SABMiller

The European Union is the first major regulator to approve of AB-InBev’s USD 100 billion plus acquisition of rival SABMiller, on the condition that the brewer shed nearly all of SABMiller’s European assets.

The European Commission, the EU’s competition agency, said that despite initial antitrust concerns AB-InBev’s concessions assuaged those worries. The deal is still awaiting approval in the U.S., China and South Africa. The regulatory review process in those markets is ongoing.

AB-InBev has already agreed to sell SABMiller’s European beer businesses Peroni and Grolsch, as well as British craft brewer Meantime to Japan’s brewer Asahi for around USD 2.9 billion. It also said it would shed SABMiller’s Central and Eastern European assets, including Pilsner Urquell, but hasn’t found a buyer for them yet.

The commission’s decision to clear the deal is conditional upon AB-InBev disposing of these assets, the EU said.