Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The Belgian-Brazilian giant, which brews Budweiser, Corona and Stella Artois, said it was disappointed that SABMiller had rejected its two previous lower-priced offers "without any meaningful engagement"/CFM BUSINESS

Kenya

Beer giant InBev raises takeover bid for SABMiller

The Belgian-Brazilian giant, which brews Budweiser, Corona and Stella Artois, said it was disappointed that SABMiller had rejected its two previous lower-priced offers "without any meaningful engagement"/CFM BUSINESS

The Belgian-Brazilian giant, which brews Budweiser, Corona and Stella Artois, said it was disappointed that SABMiller had rejected its two previous lower-priced offers “without any meaningful engagement”/CFM BUSINESS

BRUSSELS, Belgium, Oct 7 – The world’s biggest brewer, Anheuser-Busch InBev, announced Wednesday an improved 68-billion-pound (92 billion euro) takeover offer for British rival SABMiller.

The Belgian-Brazilian giant, which brews Budweiser, Corona and Stella Artois, said it was disappointed that SABMiller had rejected its two previous lower-priced offers “without any meaningful engagement”.

“We have the highest respect for SABMiller, its employees and its leadership, and believe that a combination of our two great companies would build the first truly global beer company,” Inbev chief executive Carlos Brito said in a statement.

“By bringing together our rich heritage, brands and people we would provide more opportunities for consumers to taste and enjoy the world’s best beers.”

SABMiller, the maker of Foster’s, Miller and Grolsch beers, has rejected two previous offers by InBev.

The latest InBev offer of 42.15 pounds per share values SABMiller at about 68 billion pounds.

InBev said the combined group would generate revenues of $64 billion (57 billion euros).

“The combination of AB InBev and SABMiller would result in a truly global brewer that would take its place as one of the world’s leading consumer products companies,” InBev said.

Together, they would cover “virtually every major beer market”, it said, including the emerging markets of Africa, Asia and Latin America.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...