SABMiller, Anadolu Efes on-track to form alliance

SABMiller, Anadolu Efes on-track to form alliance

SABMiller has cemented an agreement with Anadolu Efes that will see it hand over Russian beer operations in return for a 24% stake in the Turkey-based brewer.

SABMiller and Anadolu Efes said today (24 January) that they have signed a definitive transaction agreement. The deal paves the way for the brewers to form a strategic alliance, subject to regulatory approvals.

As part of the deal, agreed in principle in October, SABMiller will hand its Russian and Ukrainian beer operations to Anadolu Efes. In return, the Peroni Nastro Azzurro brewer will take a 24% stake in Anadolu Efes' business.

Last week, SABMiller said in its third-quarter trading update that it expects the deal to complete by the end of its fiscal year, which runs to the end of March. Anadolu Efes has scheduled an extraordinary general meeting for 14 February to allow its shareholders to vote on the proposed alliance.

For just-drinks analysis of the deal rationale, click here.