Brewing company Anheuser-Busch InBev (AB InBev) has announced that it is merging its operations in Russia and Ukraine with Turkish brewer Anadolu Efes.
The agreement follows AB InBev's acquisition of a 24% stake in Anadolu Efes as part of the company's combination with SABMiiller, which was completed in October 2016.
The company, which operates brands such as Budweiser, Corona, and Stella Artois, says that the new deal aims to strengthen the competitive position of both brewers in these markets, enhancing their existing relationship, and increasing the potential for further growth.
Merger Details
This will be a 50:50 merger between the two businesses, under the name AB InBev-Efes, with Tuncay Özilhan, chairman of the Anadolu Group and Anadolu Efes, serving as the group chairman.
The combined business will be fully consolidated in the Anadolu Efes financial accounts. The transaction is expected to be completed by the end of the first half of 2018.
“Today’s announcement is a significant step in furthering the strategic partnership of AB InBev and Anadolu Efes and we look forward to a successful combination delivering a broader range of beer choices to consumers in both Russia and Ukraine,” said Carlos Brito, CEO of AB InBev.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.
