AB InBev shuffles assets with Ambev ahead of SABMiller combination

13th May 2016 07:10

(ShareCast News) - Megabrewers Anheuser-Busch InBev and FTSE 100-traded SABMiller did some asset-shuffling with Brazilian brewer Ambev this week, ahead of the proposed combination of the British and Belgian companiesAB InBev confirmed it has entered into an agreement with Ambev, in which it will transfer SABMiller's Panamanian business to Ambev in exchange for Ambev's Colombian, Peruvian and Ecuadorian businesses.The board of AB InBev said this will allow it to focus on countries where the SABMiller business it acquires and combines with are well-established, and allow Ambev to initiate operations in Panama through the established SABMiller business and further expand in Central America."The transaction is conditional on the successful closing of the proposed business combination between AB InBev and SABMiller as announced on 11 November 2015, in addition to other customary closing conditions," AB InBev's board said in a statement.AB InBev was currently going through the regulatory motions with the European Commission over its proposed acquisition of and combination with SABMiller, which it expects to complete in the second half of 2016.It's understood the Belgium-based brewing giant is paying £71bn for London's SABMiller.