AB InBev Merges Russia, Ukraine Units With Turkish Brewer
August 09 2017 - 5:14AM
Dow Jones News
By Oliver Griffin
Anheuser-Busch InBev S.A. (ABI.BT) on Wednesday said it reached
an agreement to merge its Russia and Ukraine businesses with those
of Turkey-based brewer Anadolu Efes Biracilik ve Malt Sanayii
A.S.(AEFES.IS).
Under the deal, each brewer would own an equal share of the
combined company, AB InBev-Efes. The deal would see AB InBev halt
further consolidation of its operations in Russia and Ukraine. AB
InBev-Efes will be included in Anadolu Efes's financial accounts.
No financial details of the deal were disclosed.
The board of AB InBev-Efes will have equal representation from
its parent companies and is to be chaired by Tuncay Ozilhan, the
current chairman of Anadolu Group and Anadolu Efes.
Both companies have in principle agreed to nominate Dmitry
Shpakov, AB InBev's president for Russia and Ukraine, as chief
executive of AB InBev-Efes.
AB InBev and Anadolu Efes said they expect the deal to be
completed by the end of the first half of 2018. Until then, both
companies' businesses in Russia and the Ukraine will remain
separate and operate as normal.
The agreement follows AB InBev's acquisition of a 24% stake in
Andolu Efes as part of the Belgium-based brewer's combination with
SABMiller in October 2016.
Successful completion of the transaction depends on satisfactory
due-diligence checks, as well as regulatory approval in Russia and
Ukraine.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
August 09, 2017 04:59 ET (08:59 GMT)
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