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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Anheuser-Busch InBev    ABI   BE0974293251

ANHEUSER-BUSCH INBEV

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Distell accuses AB InBev, SABMiller merger of breach - South Africa regulator

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09/11/2019 | 12:45pm EDT
FILE PHOTO: The logo of AB InBev is pictured outside the brewer's headquarters in Leuven

(Reuters) - South Africa's Competition Tribunal on Wednesday said it was looking into allegations by South African alcoholic drinks firm Distell Group that the entity formed from the 2016 merger of the world's largest brewer Anheuser-Busch InBev with SABMiller breached merger conditions.

AB InBev and SABMiller were not immediately available for comment when contacted by Reuters.

Distell approached the Competition Commission with allegations that the merged entity removed competitors' advertising material from retail outlets, among others, the tribunal said in a statement, adding that the Commission found there was no breach.

Distell has now asked for a detailed review and for a full investigation to be conducted, the competition regulator said.

The tribunal said that it will consider Distell's submissions during a hearing scheduled for Thursday and Friday.

SABMiller argues that Distell's complaint is an "attempt to restrict competition and is unrelated to the merger conditions" and that the complaints "have no merit and should be dismissed," the tribunal added.

South Africa cleared Anheuser-Busch Inbev's $100 billion (80.93 billion pounds)-plus deal to acquire SABMiller in 2016 https://www.reuters.com/article/us-sabmiller-m-a-abinbev/south-africa-clears-ab-inbevs-takeover-of-sabmiller-idUSKCN0ZG1DH. The sale of SABMiller's Distell stake was a condition of the Competition Tribunal's approval of the merger.

The merger brought together AB InBev's Budweiser, Stella Artois and Corona brands with SABMiller's Peroni, Grolsch and Pilsner Urquell and brews almost a third of the world's beer, dwarfing rivals Heineken and Carlsberg.

(Reporting by Justin George Varghese in Bengaluru; Editing by Howard Goller)

Stocks mentioned in the article
ChangeLast1st jan.
ANHEUSER-BUSCH INBEV -1.41% 86.4 Delayed Quote.51.89%
CARLSBERG A/S -0.08% 989 Delayed Quote.43.29%
DISTELL GROUP HOLDINGS LTD End-of-day quote.
HEINEKEN -0.64% 96.78 Delayed Quote.26.17%
HEINEKEN HOLDING -0.28% 90 Delayed Quote.22.37%
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Financials (USD)
Sales 2019 55 277 M
EBIT 2019 18 451 M
Net income 2019 11 051 M
Debt 2019 96 218 M
Yield 2019 2,04%
P/E ratio 2019 17,9x
P/E ratio 2020 19,8x
EV / Sales2019 5,17x
EV / Sales2020 4,83x
Capitalization 189 B
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 104,57  $
Last Close Price 96,66  $
Spread / Highest target 25,8%
Spread / Average Target 8,18%
Spread / Lowest Target -37,2%
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Managers
NameTitle
Carlos Alves de Brito Chief Executive Officer
Olivier Goudet Chairman
Luis Felipe Pedreira Dutra Leite Chief Financial & Solutions Officer
Martin J. Barrington Non-Executive Director
William F. Gifford Non-Executive Director
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1st jan.Capitalization (M$)
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HEINEKEN26.17%61 440
ASAHI GROUP HOLDINGS LTD26.70%22 525
CARLSBERG A/S42.91%21 757
KIRIN HOLDINGS CO LTD-1.93%17 937