The world’s largest beer maker, Anheuser-Busch InBev (AB InBev) said it has merged its operations in Russia, Ukraine with Anadolu Efes.
The company said it has completed the proposed 50:50 merger of AB InBev’s and Anadolu Efes’ (IST: AEFES ) existing Russia and Ukraine businesses.
The latest development is a follow up to the original announcement of the transaction on 9 August 2017, the companies have received all required regulatory approvals in Russia and Ukraine and have executed relevant binding transaction agreements.
This merger follows AB InBev’s acquisition of a 24% stake in Anadolu Efes as part of the company’s combination with SAB, which completed in October 2016. Following the closing of the transaction, the operations of AB InBev and Anadolu Efes in Russia and Ukraine are now combined under AB InBev Efes.
The combined business will be fully consolidated in the Anadolu Efes financial accounts. As a result, AB InBev will stop consolidating these operations and account for its investment in AB InBev Efes under the equity method.
AB InBev Efes will build on the strengths of the combined AB InBev and Anadolu Efes portfolio of brands, including both leading international and local brands.
Terms of the agreement will not be disclosed.