By Andy Young

AB InBev and SABMiller have revealed the proposed timetable for their merger, which would see the new mega-brewer created before the end of 2016.

The timetable takes into account the regulatory requirements for the publication of documents to AB InBev and SABMiller shareholders, as well as those in the newly forming Newbelco company, which is the new name for the brewing giant.

The final transaction will take place over three stages, with the UK Scheme Document published on 26 August, AB InBev and SABMiller shareholder meetings on 28 September and the merger expected to be completed on 10 October. 

The UK Scheme Document will set out the terms for AB InBev’s purchase of SABMiller and the movement of shares to Newbelco, which will be listed on the Belgian stock exchange. SABMiller shareholders will review that document and AB InBev, SABMiller and Newbelco are all scheduled to hold general meetings on 28 September, in which they will discuss and vote on the terms of the deal.

To become effective the UK Scheme requires approval at the UK Scheme Court Meeting, which is also scheduled to take place on 28 September. The Court Meeting will ascertain if enough shareholders have voted in favour of the deal and then the SABMiller general meeting will pass a resolution to approve the deal. 

Following the UK Scheme Court Meeting and the SABMiller General Meeting, the UK Scheme will need to be sanctioned by the UK Court. The UK Scheme Court Sanction Hearing is currently intended to be held on or around 5 October 2016. That will also represent the final day of trading for SABMiller shares.

Subject to approval through those stages the SABMiller shares will then transfer to Newbelco, with the merger becoming effective and the combination complete on 10 October. The new listing of the combined group on the Euronext Brussels will take place on 11 October, with secondary listings going on to the Johannesburg Stock Exchange, the Mexico Stock Exchange and the listing of Newbelco ADSs on the New York Stock Exchange.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

Leave a comment

Your email address will not be published. Required fields are marked *