FAS approves merger of AB InBev, Efes in Russia - AB InBev Russia
MOSCOW. Oct 26 (Interfax) - The Federal Antimonopoly Service (FAS) has preliminarily approved a merger of brewers AB InBev and Anadolu Efes in Russia, the press service of AB InBev's Russian division said.
It is expected that the merger could be completed before the end of H1 2018. All changes will come into effect after the deal is closed; before this, AB InBev and Anadolu Efes will continue to operate as separate businesses.
In August the world's largest beer producer Anheuser-Busch InBev (AB InBev) and Turkey's leading brewer Anadolu Efes, concluded an agreement on the intention to combine their businesses in Russia and Ukraine on a 50/50 basis. In September, the companies submitted a request to the relevant regulatory bodies of the two countries to check the legal status of the deal and obtain the necessary approvals.
The companies expect to receive approval for the deal from the Ukrainian regulatory authorities in Q1 2018.
The parties have started mutual legal checks of all business processes and are developing an integration plan to guarantee a seamless transition into the new business structure.
The merged company will be called AB InBev-Efes. A single management team will work in the combined business under the leadership of Dmitry Shpakov, the President of JSC SUN InBev in Russia and Ukraine. AB InBev and Efes will have equal representation in the board of directors.
The companies are now jointly continuing necessary procedures as agreed in the deal and are working on the development of a plan for efficient integration with the involvement of consultants. This will enable the merged company to keep the best practices, procedures and processes of both businesses.