The beer world is in for a major takeover. Anheuser-Busch InBev announced on Wednesday that an agreement to acquire SABMiller has been reached, according to the New York Times. The deal will cost the world's largest brewer $105 billion and is expected to raise the company's yearly revenue to $64 billion.
The deal, which took months to finalize and approve, comes with a few caveats. Molson Coors Brewing Co. will take over SABMiller's 58 percent stake in MillerCoors LLC. Anheuser-Busch will also be paying 44 pounds $66.82) per share to gain a majority of the stock holding, according to Bloomberg.
The acquisition expands the Anheuser-Busch umbrella of beers, gaining brands such as Stella Artois, Corona, Peroni, Grolsch and Pilsner Urquell, according to Reuters. The company, once the deal is finalized, will control almost a third of the world's beers.
"We believe this combination will generate significant growth opportunities and create enhanced value to the benefit of all stakeholders," said AB InBev Chief Executive Officer Carlos Brito, according to Bloomberg.
The deal is far from complete, however, as there are still regulatory hurdles the companies must overcome, according to the New York Times. These include satisfying international brewers who have large stakes in the SABMiller company.
