LONDON – Anheuser-Busch InBev has agreed to sell SABMiller's stake in China's Snow Breweries for $1.6 billion to ease regulatory concerns about the merger of the world's two biggest beermakers.
AB InBev says it agreed to sell SABMiller's 49 percent stake in Snow to China Resources Beer Co., which owns the rest of China's largest brewer. The deal is contingent on the completion of AB InBev's 69 billion pound ($106 billion) takeover of SABMiller.
The sale will ease concerns that AB InBev, which is already China's third largest brewer, would have a stranglehold on the lucrative Chinese market.
AB InBev, which makes Budweiser and Corona among other brands, says the sale is part of an effort to "proactively address regulatory considerations," surrounding its merger with SABMiller.