BRUSSELS — The European Union on Tuesday approved Anheuser-Busch InBev NV’s roughly $108 billion takeover of rival SABMiller PLC on condition that the brewer sheds almost all of SABMiller’s European assets.
The European Commission, the bloc’s antitrust agency, said it initially had concerns the deal would have led to higher prices and would have made tacit coordination among rival brewers more likely, but added that AB InBev’s concessions assuaged those worries.
Belgium-based AB InBev has pledged to sell its European premium brands Peroni and Grolsch, as well as British craft-beer brand Meantime, to Asahi Group Holdings Ltd. in an offer valued at around $2.9 billion. It also said it would shed SABMiller’s Central and Eastern European assets, but hasn’t yet found a buyer for those.
The commission’s decision to clear the deal is conditional upon AB InBev disposing of the assets, the EU said.
“Today’s decision will ensure that competition isn’t weakened in these markets and that EU consumers are not worse off,” said EU antitrust chief Margrethe Vestager.
The AB InBev-SABMiller merger, which executives hope to close by the second half of this year, would create the world’s biggest beer group with about 30 percent of the global market.
The deal, announced in November, has also , China and South Africa, as well as other markets.
In central and Eastern Europe, , which includes the rights to Pilsner Urquell outside the U.S.
Within the U.S., AB InBev has already agreed to sell Pilsner Urquell to divesting SABMiller’s stake in its joint venture in MillerCoors with Molson.
AB InBev has received approval in 14 jurisdiction, including Australia, India, Kenya and Mexico, the brewer said. Regulatory clearance in the United States is still pending.
Denver Post Staff Writer Alicia Wallace contributed to this report.
Write to Natalia Drozdiak at natalia.drozdiak@wsj.com
