MillerCoors will retain its name and its HQ despite its new ownership structure

MillerCoors will retain its name and its HQ despite its new ownership structure

Molson Coors has completed its previously-announced purchase of SABMiller's stake in their US joint-venture, MillerCoors.

The deal, initially secured late last year, closed the day after Anheuser-Busch InBev finalised its acquisition of SAB. The transaction is one of a raft that went through today, most of which were initiated by AB InBev to clear anti-competition hurdles.

The purchase, which is valued at US$12bn, makes Molson Coors the world's third-largest brewer in value terms, behind AB InBev and Heineken.

"We are poised" - Molson Coors CEO on MillerCoors buy

As well as the shared portfolio of brands in the US, headed up by Miller Lite, Molson Coors will also take ownership of the Miller brand in all global markets, as well as the US rights to Peroni Nastro Azzuro and Pilsner Urquell, the former of which is now owned outside the US by Asahi. Pilsner Urquell is part of SAB's Central and Eastern European portfolio, which is still for sale.

MillerCoors will continue to operate as a separate business unit and will retain its name and headquarters in Chicago.