SABMiller shareholders approve Anheuser-Busch InBev deal
SABMiller's shareholders have approved the AB InBev's acquisition of the company
SAB said today that its shareholders approved the move at the UK Scheme Court meeting and the company general meeting. The news follows AB InBev's announcement earlier today that its shareholders have also approved the deal.
Shareholders at the general meeting voted 97.37% in favour of the deal, while those at the UK Scheme Court voted 86.5% in favour.
SAB's two largest shareholders - Altria and the Santo Domingo family's BevCo - were excluded from the vote, following a UK High Court ruling last month to treat them as a separate class of shareholder. Both Altria and BevCo have already backed the move.
SAB said it expects that its shares will be suspended on Friday on the Johannesburg Stock Exchange and, if the UK Court sanctions the UK scheme on 4 October, from 07.30 on 5 October on the London Stock Exchange.
Shareholders in Newbelco, the holding company set up by AB InBev to facilitate the purchase, also voted today to approve and implement the deal at their general meeting. Following the transaction, its name will change to Anheuser-Busch InBev.
The deal is expected to complete on 10 October.
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