Shareholders of brewing giant Anheuser-Busch InBev approved the blockbuster takeover of rival SABMiller, the brewer said today, that would create the biggest beer company in the world.
AB InBev, the brewer of Budweiser and Stella Artois, is already the world's top brewer and the SABMiller acquisition for USD 104 billion is in line to be the third largest merger in history.
"AB InBev shareholders expressed their support for the combination by passing all resolutions that were proposed in connection with the combination," a short statement from the Belgium-based brewer said.
A similar vote by SABMiller shareholders, in which the outcome is more uncertain, is expected later today in London.
SABMiller's biggest shareholders had split on the deal in July, throwing doubt on the success of the takeover.
But early indications were that the deal would go forward, Bloomberg reported yesterday. Most SABMiller investors voting by proxy supported the takeover in advance of today's shareholder meeting, the news agency said.
AB InBev in July raised its offer for SABMiller to 45 pound a share, after sterling slumped following Britain's Brexit vote to leave the EU. The new offer values the London-headquartered SABMiller at about 79 billion pound.
Marlboro cigarette-maker Altria and Colombia's tycoon Santo Domingo family favoured the deal while the powerful Aberdeen Asset Management said it was against the combination.
AB InBev agreed in November last year to buy SABMiller whose brands at the time included Foster's and Coors.
The deal is expected to boost AB InBev's prospects in developing markets in Africa and China, where a SABMiller joint venture produces Snow - the world's best selling beer by volume.
To win that approval, AB InBev has agreed to a long series of concessions, including the sale of SABMiller's Peroni, Grolsch and Meantime brands to Japanese rival Asahi.
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