InBev takes over Anheuser-Busch for $52 billion

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Source: CCTV.com | 07-15-2008 14:10

US brewer Anheuser-Busch, the maker of Budweiser, has agreed to a takeover by giant Belgian brewer InBev which produces brands like Stella Artois, Beck's and Bass. It is a union that creates global beer leader.

The headquarters of Anheuser-Busch, Inc in St. Louis, Missouri.(AFP)

The Anheuser-Busch board accepted a sweetened 52 billion US dollar takeover offer from Belgian-based InBev on Sunday.

The deal is subject to shareholders' and regulators' approval. This will create the world's largest brewer.

Carlos Brito, the CEO of InBev said, "It makes a lot of sense because I think we are going to bring the best of both companies into one company, so I mean our footprint with their amazing brand, our people, their people, skill sets of two different companies that came from two different places but that share the same roots in terms of years in the business."

The Anheuser-Busch brewery is seen in the foreground as the Gateway Arch is seen in the distance Monday, July 14, 2008.(AP Photo)

It is not clear how long the approval may take.

Several politicians have expressed concerns about the merger, especially how it will affect about six-thousand people employed by Anheuser-Busch in Saint Louis, Missouri.

InBev says it plans to use Saint Louis as its North American headquarters. It will also keep all 12 of Anheuser-Busch's North American breweries open.

But residents in Saint Louis reacted negatively to the news. They fear the takeover will be bad for the local economy. Others think while locals may initially boycott the product, they will continue drinking the beer.

Editor:Zhang Yue