Grolsch parent agrees to takeover in world's largest beer deal

Beer giants Anheuser-Busch InBev and SABMiller have reached an agreement in which AB InBev will take over rival SABMiller in a 71 billion pound deal, converts to slightly more than 100 billion euros. This deal will combine the world's two largest beer makers into a company that will produce about 30 percent of the world's beer. AB InBev will pay 44 pounds for each SABMiller share, BBC reports. SABMiller will sell 58 percent of its American joint brewery MillerCoors to help clear the way for the takeover. The shares will be sold for 12 billion dollar to partner Molson Coors Brewing. The outline of the takeover was revealed in September. AB Inbev still has to get the take over past the competition authorities. If the deal is rejected, the Belgian company will have to pay a fine of 3 billion dollars, according to NU. If the merger goes through, the newly formed beer giant will produce about 30 percent of the world's beer, according to the BBC. SABMiller is known for the beers Grolsch, Peroni and Miller light. The company employs 69 thousand people world wide. AB Inbev is known for Stella Artois, Budweiser and Corona and employs 155 thousand people worldwide. "Our combination with SABMiller is abou creating the first global beer company and bringing more choices for beer drinkers in markets outside of the US", Carlos Brito, CEO of AB InBev said about the prospective merger.