Anheuser-Busch InBev won European Union approval for its $106 billion takeover of SABMiller after agreeing to offload brands to allay antitrust concerns over a deal to combine the world’s two biggest brewers.
The European Commission said Tuesday that the proposed sale of SABMiller’s Peroni, Grolsch and Meantime beer brands to Asahi Group Holdings Ltd. as well as the divestment of Pilsner Urquell and other brands in central and eastern Europe will ensure “EU consumers aren’t worse off.”
“With this clearance, we remain firmly on track for a closing in the second half of 2016,” A-B InBev Chief Executive Officer Carlos Brito said in a statement.
A-B InBev is doing all it can to secure regulatory approval around the globe. It has now obtained approval in 14 jurisdictions. Where regulatory clearance is still pending, the company said it “will continue to engage proactively with the relevant authorities to obtain the necessary clearances as quickly as possible.”
Read more: Bloomberg