Molson Coors Brewing Co. is nearing a deal to buy the rest of the MillerCoors LLC U.S. joint venture, paving the way for SABMiller PLC to cement its blockbuster sale to Anheuser-Busch InBev NV.
As part of the deal, the U.K.’sSABMiller would sell its 58% of the venture to Denver’sMolson Coors for about $12 billion, according to people familiar with the matter. The deal, which has been anticipated since SABMiller and AB InBev reached preliminary agreement on a $100 billion-plus merger in October, would include the Miller brand internationally, one of the people said. The agreement is expected to be announced Wednesday along with a formal pact between SABMiller and AB InBev.
The MillerCoors takeover would be conditioned on the larger beer deal closing, the WSJ reported. AB InBev last week asked for another extension, until Wednesday, to make a formal offer for SABMiller.
Full content: The Wall Street Journal
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