Tag Archives: PIC

AB InBev completes sale of Distell stake

Anheuser-Busch InBev said on Wednesday that it has completed the sale of its indirect shareholding in South Africa’s Distell Group, the continent’s largest wine and spirits producer to the country’s Public Investment Corporation (PIC), a state owned corporation that manages the government’s Employee Pension Fund.

The financial terms of the deal were not disclosed.

“The sale was required as a condition of the South African Competition Tribunal’s approval on 30 June 2016 of the business combination between AB InBev and SABMiller,” AB InBev said in a statement.

South Africa’s pension fund in talks with SABMiller over AB InBev’s offer

beer

South Africa’s Public Investment Corporation (PIC), a state pension fund and SABMiller’s fourth-largest shareholder said on Wednesday it was in discussions with the brewer about an improved offer from Anheuser-Busch InBev (AB InBev), the fund said.