A-B InBev CEO to testify before Congress about SABMiller deal

Photo courtesy of Joe Raedle/Getty Images
Photo courtesy of Joe Raedle/Getty Images

Anheuser-Busch InBev CEO Carlos Brito will attempt to ease U.S. lawmakers’ concerns about the brewer’s planned $110 billion acquisition of rival SABMiller.

Brito, Molson Coors Brewing Co. chief executive Mark Hunter and other industry officials are set to testify Tuesday before a subcommittee of the Senate Judiciary Committee.

The planned acquisition of London-based SABMiller by A-B InBev, the Belgian parent company of St. Louis-based Anheuser-Busch, would create an entity responsible for half its industry’s profit and about one in every three beers produced worldwide. The combined company would have the No. 1 or No. 2 position in 24 of the 30 largest beer markets across the globe.

As part of the deal, A-B InBev has announced plans to sell SABMiller’s stake in MillerCoors to allay antitrust concerns in the U.S.

Read more from Bloomberg

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