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AB InBev and Anadolu Efes to Merge Russian and Ukrainian Operations

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AB InBev and Anadolu Efes to Merge Russian and Ukrainian Operations

AB InBev and Anadolu Efes to Merge Russian and Ukrainian Operations
August 10
09:58 2017

Anheuser-Busch InBev and Anadolu Efes, the leading brewer in Turkey, have agreed on 50:50 merger of their existing businesses in Russia and Ukraine. The proposed deal follows AB InBev’s acquisition of a 24% stake in Anadolu Efes as part of the world’s largest brewer’s purchase of SABMiller, which completed in October 2016. The transaction remains conditional on the completion of satisfactory due diligence and is subject to regulatory approvals in Russia and Ukraine.

This intended combination of the companies’ operations in Russia and Ukraine would strengthen the competitive position of both AB InBev’s and Anadolu Efes’ brands in these markets, with the potential for further growth. The combined business’ ambitions would be to lead the Russian and Ukrainian markets, with a diverse portfolio of brands and a broader range of beers for consumers. In addition, the combination would enhance AB InBev’s existing relationship with Anadolu Efes and the value of its stake in Anadolu Efes.

Following the closing of the intended transaction, the combined business would be fully consolidated in the Anadolu Efes financial accounts. As a result, AB InBev would stop consolidating its operations in Russia and Ukraine and account for its investment resulting from this transaction under the equity method.

The name of the combined company would be AB InBev-Efes and both AB InBev and Anadolu Efes would have equal representation on the board of directors, with Tuncay Özilhan, current chairman of the Anadolu Group and Anadolu Efes, serving as the chairman.

Both AB InBev and Anadolu Efes have agreed in principle to the nomination of Dmitry Shpakov, the current president of the AB InBev Russia and Ukraine businesses, as chief executive to lead and run the combined AB InBev-Efes business, and to the nomination of Roy Cornish, the current managing director of Efes-Rus, as its chief financial officer.

Terms of the agreement will not be disclosed.

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