Sydney: Beer giant Anheuser Busch Inbev SA's plan to takeover rival SABMiller Plcfor $100 billion has been cleared by the Australia's antitrust regulator.
According to the Australian Competition and Consumer Commission (ACCC), the proposed acquisition is unlikely to result in higher beer prices for consumers. The deal is also not likely to hurt competition in Australia because AB Inbev sells its beers in Australia only via distributors.
AB Inbev mentioned it expects to complete the purchase by the end of 2016, but still has to secure antitrust clearance in Europe.
AB Inbev is the No. 2 beer supplier in Australia, behind Lion Nathan, owned by Japan's Kirin Holdings Co Ltd.