The purchase of SABMiller by Anheuser-Bush InBev (AB InBev) has been agreed upon and in a joint statement this morning, both parties announced that a Belgian company, called Newco - set up for the purposes of the transaction - will acquire SABMiller. AB InBev will then merge with Newco and become the world’s largest brewer.

The final deal saw SABMiller purchased for just over US$107bn.

The transaction, comprising a cash offer of GBP44 per share and a 'partial share alternative', values SABMiller at around GBP71bn (US$107.3bn).

Carlos Brito, CEO of AB InBev said: “We believe this combination will generate significant growth opportunities and create enhanced value to the benefit of all stakeholders. By pooling our resources, we would build one of the world’s leading consumer product companies. Our joint portfolio of complementary global and local brands would provide more choices for beer drinkers in new and existing markets around the world.

"It has long been our dream to build the 'Best Beer Company Bringing People Together For a Better World', and we believe this combination represents a step change for our business and our journey towards achieving that goal.”

drinks bulletin expects to release more detail over the next two days, but the purchase itself is expected to be complete in the second half of 2016.

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