AB InBev completes Distell shareholding saleBy Amy Hopkins
The world’s largest brewer Anheuser-Busch InBev has completed the sale of its indirect shareholding in Amarula liqueur and Bunnahabhain Scotch producer Distell Group.
Last year, South Africa’s Competition Commission ordered AB InBev to sell SABMiller’s 26% stake in South African firm Distell ahead of a US$79 billion merger of the two brewers.
Two months after its completed acquisition of SABMiller, AB InBev agreed to sell the Distell shareholding – estimated to be worth US$559m – to a state-run pension scheme.
In December 2016, AB InBev announced it had entered into a “binding agreement” to sell the 58.5m ordinary shares to Africa’s largest pension administrator Public Investment Corporation on behalf of the Government Employees Pension Fund.
AB InBev was ordered to sell a number of its own and SABMiller’s brands ahead of the acquisition to appease competition regulators.
Completion of the deal marked the biggest ever merger in drinks industry history.