AB InBev SA (BUD) Receives Shareholder Support of Proposed SABMiller Merger
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AB InBev SA (NYSE: BUD) announces the results from today’s AB InBev General Meeting in connection with the proposed business combination between SABMiller plc (“SABMiller”) and AB InBev (the “Combination”). AB InBev shareholders expressed their support for the Combination by passing all resolutions that were proposed in connection with the Combination.
Commenting on the shareholder vote, Carlos Brito, CEO of AB InBev said: “We are pleased that our shareholders’ vote brings us one step closer to combining our companies, teams, strong heritage and passion for brewing. We are committed to driving long-term growth and creating value for all our stakeholders.”
AB InBev also announces that the combined group will retain the name Anheuser-Busch InBev SA/NV following completion of the Combination, and therefore Newbelco SA/NV (“Newbelco”) will be renamed accordingly.
Full details of all resolutions passed are set out in the convening notice to attend the AB InBev General Meeting that was published on 26 August 2016 and is available at www.ab-inbev.com.
Details of the votes cast on all of the resolutions can be found in the minutes of the meeting, a copy of which will be made available on www.ab-inbev.com and www.globalbrewer.com.
Should SABMiller shareholders approve the resolutions at the UK Scheme Court Meeting and the SABMiller General Meeting, and Newbelco shareholders approve the resolutions at the Newbelco General Meeting, all due to be held today, the Combination is expected to complete on 10 October 2016, subject to the satisfaction or waiver of certain conditions as set out in Part V of the UK Scheme Document.
The indicative timetable remains as announced on 26 August 2016 save that it is expected that the listing of the SABMiller Shares on the London Stock Exchange will be suspended at 7:30 a.m. on 5 October 2016, the SABMiller Shares will be delisted from the London Stock Exchange by 8.00 a.m. on 6 October 2016, the Applicable Rate will be announced at the opening of the markets in South Africa on 12 October 2016 and the expected date for the despatch of cheques, electronic funds transfers and crediting of CREST and the STRATE system accounts for cash proceeds due under the Belgian Offer will be 13 October 2016.
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