AB InBev, the number one beer company in the world by volume has formally agreed to buy SABMiller, the number two for £71.4bn ($107.7bn), in a deal that will create a behemoth that will make about 30 percent of all beers sold world-wide.

As part of the merger, SABMiller has agreed to sell its stake in a U.S. joint-venture, MillerCoors, to its partner, Molson Coors Brewing Co, which holds the remaining stake plus MillerCoors’ international portfolio for $12bn.