Tuesday, 18 November 2008 17:16
InBev has completed its $52 billion (£35 million) takeover of Anheuser-Busch, creating the world's largest brewer.
The new company will be named Anheuser-Busch InBev and based at InBev's current headquarters in Leuven, Belgium. It will be headed up by InBev CEO Carlos Brito.
Anheuser-Busch president and CEO, August A. Busch IV, joins the new company's board as a non-executive director.
Anheuser-Busch's St. Louis base will act as the company's North American headquarters.
The deal means that InBev now owns the Budweiser brand - the world's top selling beer. It says it plans to market it more heavily in emerging markets in Asia, Latin America and eastern Europe. InBev already owns brand giants Stella Artois and Beck's.
"By bringing together these two great businesses, we have created a stronger, more competitive global company with a leading international brand portfolio and distribution network, and great potential for growth all over the world," said Brito in a statement.
On Friday, the US Justice Department lifted a key regulatory hurdle to the takeover, after InBev agreed to sell its Labatt USA beer brand.