Inbev calls shareholder vote on Anheuser takeover

AFP - Thursday, September 4 09:52 am

BRUSSELS (AFP) - Belgian-Brazilian brewery giant InBev announced Thursday an extraordinary shareholders' meeting for September 29 to vote on the planned takeover of US rival Anheuser-Busch.

Approval of the 52 billion dollar (33 billion euro) bid will require the support of shareholders representing at least 75 percent of Inbev's total equity, the company said in a statement.

Inbev is offering 70 dollars per share, valuing the US iconic firm at 52 billion dollars. Shareholders will also need to approve the financing plans which include the issuance of 9.8 billion euros worth of new shares.

The extraordinary general meeting will also pass judgement on the planned new company name, Anheuser-Busch Inbev.

The InBev board "unanimously recommends shareholders to vote in favor of all resolutions," the statement said.

By swallowing up Anheuser-Busch, Inbev will strengthen its position as the world's biggest brewer, well ahead of Britain's SABMiller.

While ending Anheuser's roughly 150 years of independence as a premier American brewer, the deal will also create one of the top five consumer goods groups in the world.

The combined company will have net sales of about 36 billion dollars a year, offering consumers some 300 brands, including Anheuser's Budweiser and Bud Light, and InBev's Stella Artois and Beck's.

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