12th November, 2015 by Neal Baker
US-based beer producer Molson Coors has confirmed that it is buying SABMiller’s stake in its joint MillerCoors business for $12 billion.

The deal will better free up SABMiller to receive US regulatory approval for its takeover by Budweiser brewer AB Inbev, which was confirmed on Wednesday (11 November).

Molson Coors will also acquire full ownership of the Miller brand portfolio outside of the US as part of the “game-changing” deal to buy SAB’s 58% share of the business.

Molson will also retain the rights to all of the brands currently in the MillerCoors portfolio for the US market, including Redd’s and import brands such as Peroni and Pilsner Urquell.

The deal will create cost synergies – savings and increased revenue as a direct result of the takeover – of at Least $200 million (£130m) by 2020, Molson said in a statement. 

Read More at Source | Drinks Business