AB InBev to exchange assets with Ambev in Latin America
Anheuser-Busch InBev (AB InBev), the world’s largest beer company, said on Friday it had reached an agreement with one of its subsidiaries, Ambev, the Brazilian brewer, whereby it will transfer SABMiller’s businesses in Panama to Ambev in exchange for Ambev’s businesses in Colombia, Peru and Ecuador.
AB InBev said the asset transfer would allow it to focus on markets where SABMiller has very well established businesses. For instance, SABMiller’s Bavaria Brewery in Colombia has a total market monopoly in that country. It said the asset swap would also allow Ambev to gain a foothold in Panama.
The asset transfer is of course, dependent on the successful completion of the merger with SABMiller, which is expected to close in the second-half of this year.
Ambev is to AB InBev what South African Breweries (SAB) is to SABMiller. Like SABMiller, which originated in South Africa as SAB, Ambev was founded in Bazil in 1999 through a merger of two of the country’s biggest brewers, Antartica and Brahma. In 2004 Ambev acquired Belgium’s Interbrew to form InBev. The company would later acquire American brewer, Anheuser-Busch in 2008 to create what is today AB InBev.