The world’s biggest brewer Anheuser-Busch InBev on Wednesday said it had reached formal agreement on a mega-takeover of its nearest rival, Britain’s SABMiller, for $121 billion (112 billion euros) including debt.

InBev will pay £44 per share for SABMiller, which has also agreed to sell its majority stake in US unit MillerCoors for $12 billion to Molson Coors as part of the deal, the pair said in a statement.