AB InBev’s $107 Billion Acquisition of SABMiller and $12 Billion Agreement with Molson Coors
November 11, 2015
On November 11, 2015, Anheuser‑Busch InBev and SABMiller plc announced that they have reached agreement on the terms of an acquisition of the entire issued and to be issued share capital of SABMiller by AB InBev, in a transaction valued at approximately US$107.7 billion. Under the terms of the agreement, SABMiller will be acquired by Newco, a Belgian company to be formed for the purpose of the transaction. AB InBev will also merge into Newco and, following the completion of the transaction, Newco will be the new holding company of the combined group.
AB InBev also announced an agreement with Molson Coors Brewing Company regarding a complete divestiture of SABMiller’s interest in MillerCoors LLC, a joint venture in the U.S. and Puerto Rico between Molson Coors and SABMiller, as well as the Miller Beer business internationally. The total transaction is valued at US$12 billion and is conditional on the completion of AB InBev’s acquisition of SABMiller. Upon completion of the transaction, MillerCoors will become a wholly owned subsidiary of Molson Coors.
Cravath is representing AB InBev in connection with these transactions.
The Cravath team includes partner Robert I. Townsend III and associate Matthew M. Kelly on M&A; partners Christine A. Varney and Yonatan Even and associate Greg C. Cheyne on antitrust matters; partners Stephen L. Gordon, Lauren Angelilli and Christopher K. Fargo and associate Sara L. Lykken on tax matters; partners Stephen M. Kessing and Joseph D. Zavaglia, senior attorney Kimberly A. Grousset and associate Ankur N. Patel on finance matters; and partner David J. Kappos and associates Nicholas A. Jackson and Christopher P. Davis on intellectual property matters. Daniel S. Connelly and Jeremy S. Lerner are also working on M&A matters.
Related Practices & Industries
People
- Photo
-
-
J.D., 1990, Harvard Law Schoolmagna cum laude
-
A.B., 1987, Harvard Collegemagna cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 1986, Georgetown University Law Center
-
M.P.A., 1982, Syracuse University
-
B.A., 1977, State University of New York, Albany
- New York
- District of Columbia
Education
Admitted In
- Photo
-
-
J.S.D., 2009, Columbia Law School
-
LL.M., 2004, Columbia Law SchoolJames Kent Scholar
-
LL.B., 1999, Tel Aviv Universitymagna cum laude
- New York
Education
Admitted In
-
J.D., 2000, Harvard Law Schoolcum laude
-
B.S., 1996, The Wharton School of the University of Pennsylvaniamagna cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2006, Columbia Law SchoolHarlan Fiske Stone; Michael Lynne Scholar
-
B.A., 2003, Boston CollegeHonors Program, cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2005, Duke Law SchoolOrder of the Coif, magna cum laude
-
M.B.A., 2001, University of Southern California
-
B.S., 1995, Miami University of Ohio
- New York
Education
Admitted In
- Photo
-
-
J.D., 2004, Brooklyn Law SchoolValedictorian, summa cum laude
-
B.B.A., 2001, College of Insurancecum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 1990, University of California, Berkeley, School of Law
-
B.S., 1983, University of California, Davissumma cum laude
- New York
- California
- District of Columbia
Education
Admitted In
- Photo
-
-
J.D., 1995, Harvard Law Schoolcum laude
-
B.A., 1992, St. Bonaventure Universitysumma cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 1981, Harvard Law Schoolcum laude
-
A.B., 1978, Cornell Universitycum laude
Education
Related News
Deals & Cases
October 04, 2024
DRI Healthcare Trust’s Acquisition of Payment Streams Based on the Cas9 Gene‑Editing Technology for CASGEVY®
On October 3, 2024, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, announced that one of its wholly owned subsidiaries acquired a portion of Editas Medicine, Inc.'s payment rights under a non‑exclusive license of Editas' Cas9 gene‑editing technology for CASGEVY®, the only approved gene‑edited cell therapy for sickle cell disease and transfusion‑dependent beta thalassemia, for an upfront purchase price of $57 million. The transaction entitles DRI Healthcare to specific payments based on a sublicensing agreement between Editas and Vertex Pharmaceuticals Incorporated. The payments include a share of the annual license fees that Vertex pays to Editas, which can range from $5 million to $40 million, including certain sales‑based annual license fee increases, and a portion of a $50 million contingent payment to which Editas is eligible under the Vertex sublicensing agreement. Cravath is representing DRI Healthcare in connection with the transaction.
Deals & Cases
September 05, 2024
Frontier’s $20 Billion Acquisition by Verizon
On September 5, 2024, Verizon Communications Inc. and Frontier Communications Parent, Inc. (“Frontier”), the largest pure‑play fiber provider in the U.S., announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all‑cash transaction valued at $20 billion. Cravath is representing Frontier in connection with the transaction.
Deals & Cases
May 07, 2024
Ashland’s Sale of its Nutraceuticals Business to Turnspire Capital Partners
On May 7, 2024, Ashland Inc. (“Ashland”), a global additives and specialty ingredients company, announced that it has signed a definitive agreement to sell its nutraceuticals business to Turnspire Capital Partners LLC. Cravath is representing Ashland in connection with the transaction.
Deals & Cases
April 02, 2024
Endeavor’s $25 Billion Take‑Private Acquisition by Silver Lake
On April 2, 2024, Endeavor Group Holdings, Inc. (“Endeavor”), a global sports and entertainment company, announced that it has entered into a definitive agreement to be acquired by Silver Lake, the global leader in technology investing, in partnership with the Endeavor management team and additional anchor investors. Cravath is representing the independent Special Committee of Endeavor’s board of directors in connection with the transaction.
