“They believe they will soon get the necessary regulatory approvals particularly in US, Europe and China,” commented John Colley, a Professor of Practice at Warwick Business School.
However, the deal’s progress in other markets comes as Australia’s competition watchdog has twice postponed its ruling on the local impacts of the transaction.
An initial decision date of April 14 was last week postponed to April 21, only for the ACCC to this week announce it had been delayed once again.
The watchdog said the latest delay was “at the request of the merger parties to allow them to provide more information.”
“A new expected decision date will be provided once the information is received,” it said.
Asahi’s purchase of SABMiller’s European brands is conditional on the successful completion of AB InBev’s acquisition of SABMiller, which Colley said had come at a high cost for AB InBev shareholders.
“Assets sold to allay competition fears include worldwide rights to the Miller brands which went to MolsonCoors, Snow brand to China Resources Enterprise, and now Peroni and Grolsch to Asahi of Japan,” he said.
“The overall price of the deal and the extent of necessary disposals suggests that AB InBev's shareholders may not benefit.”
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