AB InBev launches SAB bid, to sell MillerCoors stake

November 11, 2015 9:05 AM

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AB InBev launches SAB bid, to sell MillerCoors stake

BRUSSELS/LONDONAnheuser-Busch InBev (ABI.BR), the world's biggest brewer, launched its $100 billion-plus offer for nearest rival SABMiller (SAB.L) on Wednesday and agreed to sell the latter's stake in U.S. venture MillerCoors to help win regulatory approval.

AB InBev, whose takeover of SABMiller would be one of the largest mergers in corporate history, said it expected to achieve $1.4 billion in annual savings four years after completion of the deal, projected for the second half of 2016.

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