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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 -1.44% 47.695 Delayed Quote.-33.53%
CARLSBERG A/S -1.56% 858.6 Delayed Quote.-12.30%
DISTELL GROUP HOLDINGS LIMITED -0.03% 71.98 End-of-day quote.-45.80%
DOW JONES AFRICA TITANS 50 INDEX -0.36% 483.65 Delayed Quote.-9.31%
DOW JONES SOUTH AFRICA(ZAR) 0.46% 1681.21 Delayed Quote.-7.26%
HEINEKEN HOLDING N.V. -1.49% 69.35 Delayed Quote.-18.52%
HEINEKEN N.V. -1.31% 78.3 Delayed Quote.-16.46%
JUST GROUP PLC 0.53% 44.4765 Delayed Quote.-44.00%
S&P AFRICA 40 INDEX -0.81% 160.46 Delayed Quote.-6.56%
WILL GROUP, INC. 0.80% 884 End-of-day quote.-29.39%
WORLD CO., LTD. -1.10% 1348 End-of-day quote.-49.91%
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Financials (USD)
Sales 2020 45 238 M - -
Net income 2020 802 M - -
Net Debt 2020 85 362 M - -
P/E ratio 2020 186x
Yield 2020 1,91%
Capitalization 113 B 113 B -
EV / Sales 2020 4,38x
EV / Sales 2021 3,96x
Nbr of Employees 170 000
Free-Float 39,4%
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 67,05 $
Last Close Price 57,17 $
Spread / Highest target 69,5%
Spread / Average Target 17,3%
Spread / Lowest Target -28,9%
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Managers
NameTitle
Carlos Alves de Brito Chief Executive Officer
Martin J. Barrington Chairman
Fernando Mommensohn Tennenbaum Chief Financial Officer
David Almeida Chief Strategy & Technology Officer
William F. Gifford Non-Executive Director
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AMBEV S.A.-28.33%37 745
CONSTELLATION BRANDS, INC.-4.96%34 915
HEINEKEN HOLDING N.V.-18.52%23 985