Effective yesterday, InBev has changed its name to Anheuser-Busch InBev to reflect the heritage and traditions of A-B. Starting Nov. 20, 2008, the company [image-nocss] will trade under the new ticker symbol ABI on the Euronext Brussels stock exchange. Effective as of the close of trading Monday, A-B common stock has ceased trading.
A-B has become a wholly owned subsidiary of Leuven, Belgium-based Anheuser-Busch InBev and will retain its current headquarters in St. Louis, which will also become the North American headquarters for the combined company.
The new company is geographically diversified, benefiting from a balanced exposure to developed and developing markets. The company manages a portfolio of more than 200 brands that includes global flagship brands Budweiser, Stella Artois and Beck's, multi-country brands Leffe and Hoegaarden and strong local brands Bud Light, Skol, Brahma, Quilmes, Michelob, Harbin, Sedrin, Cass, Klinskoye, Sibirskaya Korona, Chernigivske and Jupiler, among others.
Carlos Brito, CEO of Anheuser-Busch InBev, said, "We are extremely pleased to announce the closing of this historic transaction. By bringing together these two great businesses, we have created a stronger, more competitive global company with a leading international brand portfolio and distribution network, and great potential for growth all over the world. We look forward to leveraging the operational and cultural strengths of both companies.... We will succeed by celebrating and integrating both companies' strong brands, heritages and values and by incorporating the best practices of both."
August A. Busch IV, president and CEO of A-B said, "By combining with InBev, we have created a first-class international consumer products company and, without a doubt, the premier global brewer. Together, we will achieve our goals far more effectively than either company could on its own."
InBev has received all regulatory clearances required to be obtained in order to proceed with completion. Prior to completion, InBev reached an agreement with the U.S. Department of Justice (DOJ) that permitted the completion of the acquisition provided that certain actions to address competition concerns relating to the combination of InBev USA's sales of Labatt branded beer and A-B's sales of beer in upstate New York are implemented following closing of the deal. The terms of the consent final judgment with the DOJ were filed in U.S. District Court for the District of Columbia on Nov. 14, 2008.
Several management and board of director changes became effective as a result of closing the transaction. Luiz Fernando Edmond, currently zone president for Latin America North and AmBev's CEO, becomes zone president for North America. Dave Peacock, who most recently served as vice president of marketing of Anheuser-Busch Inc. and CEO of Wholesaler Equity Development Corp., a wholly owned subsidiary of Anheuser-Busch Cos. Inc., becomes president of A-B. Additionally, Joao Castro Neves becomes zone president for Latin America North and AmBev's CEO, and the incumbent zone president for North America, Bernardo Pinto Paiva, has become zone president for Latin America South, replacing Joao.
The board of the combined company will be comprised of the existing directors of the InBev board and former Anheuser-Busch president and CEO August A. Busch IV.
Click hereto view the new A-B InBev website.
Click hereto view an interview with Carlos Brito.
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