Wrap Text
GEN- General - Abinbev proposes combination with SABMiller
PRESS RELEASE
Brussels, 7 October 2015
The enclosed information constitutes regulated information as defined in the Belgian Royal Decree of 14 November 2007
regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM
ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT
LAWS OR REGULATIONS OF THAT JURISDICTION.
THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER
UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS AND THERE CAN BE NO
CERTAINTY THAT AN OFFER WILL BE MADE.
Anheuser-Busch InBev Proposes Combination with
SABMiller to Build the First Truly Global Beer Company
Combination Would Create One of the World’s Leading Consumer Products Companies
Largely Complementary Geographical Footprints and Brand Portfolios
Revised Proposal Represents a Compelling Opportunity for SABMiller Shareholders;
Cash Proposal Represents an Attractive Premium of 44% and Partial Share Alternative a
Premium of 28%
Strong Commitment to South Africa and the African Continent as Critical Driver of Future
Growth
More Choice for Consumers around the World
Anheuser-Busch InBev (“AB InBev”) (Euronext: ABI) (NYSE: BUD) today announces a revised proposal to
the Board of SABMiller plc (“SABMiller”) (LSE: SAB) (JSE: SAB) to combine the two companies and build
the first truly global beer company.
Revised Proposal is Highly Attractive to SABMiller Shareholders
The revised proposal that AB InBev has made today is to acquire SABMiller for GBP 42.15 per share in
cash, with a partial share alternative available for approximately 41% of the SABMiller shares. AB InBev
has made two prior written proposals in private to SABMiller, the first at GBP 38.00 per share in cash and
the second at GBP 40.00 per share in cash. AB InBev is disappointed that the Board of SABMiller has
rejected both of these prior approaches without any meaningful engagement.
AB InBev believes that this revised proposal should be highly attractive to SABMiller shareholders and
provides an extremely compelling opportunity for them. The cash proposal represents a premium of
approximately 44% to SABMiller’s closing share price of GBP 29.34 on 14 September 2015 (being the last
business day prior to renewed speculation of an approach from AB InBev).
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The revised proposal is designed to enable a compelling cash offer to be made to SABMiller’s public
shareholders and to provide a continuing attractive investment for Altria Group, Inc. and BevCo Ltd. (who
together hold approximately 41% of the SABMiller shares), which AB InBev believes will satisfy their
financial requirements. Importantly, the partial share alternative enables appropriate financing to be
achieved and supports the cash offer at a higher price than AB InBev would otherwise be able to offer.
Further details of the partial share alternative and the pre-conditions to this revised proposal are set out
below.
AB InBev believes that the revised cash proposal of GBP 42.15 per share is at a level that the Board of
SABMiller should recommend.
A Compelling Opportunity
The combination of AB InBev and SABMiller would result in a truly global brewer that would take its place
as one of the world’s leading consumer products companies. Given the largely complementary
geographical footprints and brand portfolios of AB InBev and SABMiller, the combined group would have
operations in virtually every major beer market, including key emerging regions with strong growth
prospects such as Africa, Asia, and Central and South America.
As a combined company, the group would generate revenues of USD 64 billion and EBITDA of USD 24
billion1. AB InBev believes that this transaction would be in the best interests of both companies’
consumers, shareholders, employees, wholesalers, business partners and the communities they serve.
“We have the highest respect for SABMiller, its employees and its leadership, and believe that a
combination of our two great companies would build the first truly global beer company,” said Carlos Brito,
Chief Executive Officer of Anheuser-Busch InBev. “Both companies have deep roots in some of the most
historic beer cultures around the world and share a strong passion for brewing as well as a deep seated
tradition of quality. By bringing together our rich heritage, brands and people we would provide more
opportunities for consumers to taste and enjoy the world’s best beers. We also both strive to have a
positive impact on the communities in which we work and live as two of the world’s leading corporate
citizens. Put simply, we believe we can achieve more together than each of us could separately, bringing
more beers to more people and enhancing value for all of our stakeholders.”
1
Figures represent the aggregate consolidated revenue and EBITDA of (a) the amount for the 12 month period ending
on 31 March 2015 (in the case of SABMiller) and (b) the amount for the 12 month period ending on 31 December 2014
(in the case of AB InBev).
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Combination to Generate Significant Growth Opportunities, Benefiting Stakeholders around the
World
A combination of AB InBev and SABMiller would generate significant growth opportunities from marketing
the companies’ combined brand portfolio through a largely complementary distribution network, and
applying the best practices of both companies across the new organization. Strong brand building
experience and success in developing national icons and local brands have been critical success factors for
both AB InBev and SABMiller.
The combined company’s joint portfolio of complementary global and local brands would provide more
choices for beer drinkers in new and existing markets around the world. In addition, bringing together the
capabilities of both companies would enable further innovations to introduce exciting new products for our
consumers around the globe.
As an example, following the combination with Anheuser-Busch, AB InBev has successfully grown
Budweiser globally, with international sales now accounting for over half of the brand’s total volume.
Building the Best Global Talent Pool
AB InBev believes that, together with SABMiller, it can build one of the world’s pre-eminent consumer
goods companies, benefitting from the skills, enthusiasm, commitment, energy and drive of the combined
global talent base.
AB InBev is a truly international organization, with close to 30 nationalities represented in the most senior
management positions. SABMiller’s experienced management team offers extensive market expertise,
especially in regions where AB InBev does not currently have a significant presence.
As a result, AB InBev would expect that key members of SABMiller’s management team and employees
would play a significant role in the combined company across the organization.
African Continent to be Critical Driver of Growth for Combined Company, Building on the Strong
Heritage of SABMiller in the Region
Africa, as a continent, has hugely attractive markets with increasing GDPs, a growing middle class and
expanding economic opportunities. Africa would continue to play a vital role in the future of the combined
company, building upon the strong history and success of SABMiller in the region dating back to the 19th
century. AB InBev intends to establish a secondary listing on the Johannesburg Stock Exchange, as well as
have a local board that would be critical to the future success of the combined company.
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AB InBev intends for Johannesburg to continue to be the regional headquarters for the combined group on
the African continent. In addition, AB InBev recognizes that SABMiller has long supported the progress of
South African society and is deeply engaged with local stakeholders. In particular, AB InBev admires the
Broad-Based Black Economic Empowerment scheme that SABMiller has put in place and intends to
continue this initiative.
Building a Better World Together
Both companies strive to have a positive impact on the communities in which they work and live by
providing opportunities all along the supply chain — from farmers to brewmasters to truck drivers to
customers — as well as by aspiring to the highest standards of corporate social responsibility.
A combination of the two companies would pool resources and expertise to make a greater and more
positive impact on the world. Both companies have strong programs that partner with stakeholders to
encourage the responsible enjoyment of their products, to reduce the impact on the environment with a
focus on water, energy, and recycling, and to improve the communities where they live and work.
Proven Track Record of Successfully Completing Transactions and Creating Shareholder Value
AB InBev has a proven track record of successfully completing and integrating business combinations and
creating shareholder value. The company has completed several major transactions in the past two
decades and has consistently delivered on stated goals and honored commitments for the benefit of all
stakeholders. A combination would pool resources and expertise to make an even greater and more
positive impact on communities around the world.
Committed to Working Proactively with Regulators
The companies’ geographic footprints are largely complementary on a continental and regional basis and
AB InBev would work with SABMiller and the relevant authorities in seeking to bring all potential
regulatory reviews to a timely and appropriate resolution. In the U.S. and China, in particular, the
company would seek to resolve any regulatory or contractual considerations promptly and proactively.
Similarly, in South Africa and other jurisdictions, AB InBev would work with SABMiller to address any
regulatory requirements.
Partial Share Alternative
The revised proposal includes a partial share alternative which comprises up to 326 million shares and is
available for approximately 41% of the SABMiller shares. These shares would take the form of a separate
class of AB InBev shares (the “Restricted Shares”) with the following characteristics:
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? Unlisted and not admitted to trading on any stock exchange;
? Subject to a five-year lock-up from closing;
? Convertible into AB InBev ordinary shares on a one for one basis after the end of that five year
period; and
? Ranking equally with AB InBev ordinary shares with regards to dividends and voting rights.
Pre-conversion into AB InBev ordinary shares, SABMiller shareholders who elect for the partial share
alternative will hold 0.483969 Restricted Shares for every 1 SABMiller share2. SABMiller shareholders who
elect for the partial share alternative would also receive GBP 2.37 in cash for each SABMiller share. Based
on the closing price of AB InBev’s ordinary shares on 6 October 2015 of EUR 98.06, the partial share
alternative, including the GBP 2.37 in cash, would value each SABMiller share at GBP 37.49 per share,
representing a premium of approximately 28% to the closing SABMiller share price of GBP 29.34 as of 14
September 20153.
This means that the implied value of the partial share alternative is less than the proposed cash offer,
even before taking account of the additional discount that would apply for the unlisted nature and non-
transferability of the Restricted Shares. AB InBev is not seeking a recommendation from the Board of
SABMiller in respect of the partial share alternative.
AB InBev expects that most SABMiller shareholders will likely accept the higher premium cash offer and,
should they wish to, re-invest their proceeds in AB InBev’s listed ordinary shares. However, any SABMiller
shareholder will be able to elect for the partial share alternative.
Pre-Conditions
The announcement of a formal transaction would be subject to the following matters:
? Recommendation by the Board of SABMiller in respect of the cash offer, and the execution of
irrevocable undertakings to vote in favor of the transaction from members of the SABMiller Board,
in a form acceptable to AB InBev;
? The execution of irrevocable undertakings to vote in favor of the transaction and the elections for
the partial share alternative from SABMiller’s two major shareholders, Altria Group, Inc. and BevCo
Ltd., in each case in respect of all of their shareholding and in a form acceptable to AB InBev;
? Satisfactory completion of customary due diligence; and
2
In the event that elections for the Restricted Shares represent more than 326 million Restricted Shares then such
elections will be reduced on a pro rata basis.
3
Based on an exchange rate of EUR 1.3515:GBP 1.0000, which was derived from data provided by Bloomberg as at 4.30
pm BST on 6 October 2015.
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? Final approval by the Board of AB InBev. The Board of AB InBev has fully supported this proposal
and expects (subject to the matters above) to give its formal approval immediately prior to
announcement.
AB InBev reserves the right to waive in whole or in part any of the pre-conditions to making an offer set
out in this announcement.
The conditions of the transaction will be customary for a combination of this nature, and will include
approval by both companies’ shareholders and receipt, on satisfactory terms, of all antitrust and
regulatory approvals.
In view of the timetable for obtaining some of these approvals, AB InBev envisages proceeding by way of
a pre-conditional transaction in accordance with The City Code on Takeovers and Mergers (“the Code”).
The cash consideration under the transaction would be financed through a combination of AB InBev’s
internal financial resources and new third party debt.
The proposal does not constitute an offer or impose any obligation on AB InBev to make an offer, nor does
it evidence a firm intention to make an offer within the meaning of the Code. AB InBev does not,
therefore, regard it as forming the basis for an announcement pursuant to Rule 2.2(a) of the Code.
There can be no certainty that a formal offer will be made. A further statement will be made as
appropriate.
AB InBev reserves the following rights:
a) to introduce other forms of consideration and/or to vary the composition of consideration;
b) to implement the transaction through or together with a subsidiary of AB InBev or a company
which will become a subsidiary of AB InBev;
c) to make an offer (including the cash offer and partial share alternative) for SABMiller at any time
on less favorable terms:
(i) with the agreement or recommendation of the Board of SABMiller;
(ii) if a third party announces a firm intention to make an offer for SABMiller on less favorable
terms; or
(iii) following the announcement by SABMiller of a whitewash transaction pursuant to the Code;
and
d) in the event that any dividend is announced, declared, made or paid by SABMiller, to reduce its
offer (including the cash offer and partial share alternative) by the amount of such dividend.
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AB InBev has retained Lazard as its financial advisor and Freshfields Bruckhaus Deringer LLP as legal
advisor in connection with the matters described in this announcement.
Microsite and CEO Video
Further information, including all documents related to the proposed transaction and a video of AB InBev
CEO Carlos Brito discussing the proposed combination, can be found at: www.globalbrewer.com. A
transcript of the video can be found at: http://www.globalbrewer.com/home/#news-and-facts.
Investor and Analyst Conference Call Details
AB InBev will host two conference calls for investors and analysts today. Details for the calls are as
follows:
Investor and Analyst Conference Call #1
Time: 4 a.m. EDT / 9 a.m. BST / 10 a.m. CET
Webcast Link:
http://cache.merchantcantos.com/webcast/webcaster/4000/7464/16532/52926/Lobby/default.htm
UK Dial-In Number: +44 (0) 20 7192 8000
US Dial-In Number: +1 866 966 1396
Conference ID: 56262876
Investor and Analyst Conference Call #2
Time: 8:30 a.m. EDT / 1:30 p.m. BST / 2:30 p.m. CET
Webcast Link:
http://cache.merchantcantos.com/webcast/webcaster/4000/7464/16532/52927/Lobby/default.htm
UK Dial-In Number: +44 (0) 20 7192 8000
US Dial-In Number: +1 866 966 1396
Conference ID: 56267073
For those unable to listen to the live broadcast, a replay of the webcast and a transcript of the call will be
archived and available on www.globalbrewer.com
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Media Conference Call Details
AB InBev will also host two conference calls for media today. Details for the calls are as follows:
Media Conference Call #1
Time: 2:30 a.m. EDT / 7:30 a.m. BST / 8:30 a.m. CET
UK Dial-In Number: +44 (0) 20 7192 8000
US Dial-In Number: +1 866 966 1396
Conference ID: 56231478
Media Conference Call #2
Time: 9:30 a.m. EDT / 2:30 p.m. BST / 3:30 p.m. CET
UK Dial-In Number: +44 (0) 20 7192 8000
US Dial-In Number: +1 866 966 1396
Conference ID: 56244076
Lazard is acting exclusively as financial adviser to AB InBev and for no one else in connection with the
matters described in this announcement and is not, and will not be, responsible to anyone other than AB
InBev for providing the protections afforded to clients of Lazard, or for providing advice in connection with
the matters described in this announcement. For these purposes “Lazard” means Lazard Frères & Co. LLC
and Lazard & Co., Limited. Lazard & Co., Limited is authorised and regulated in the United Kingdom by the
Financial Conduct Authority. Neither Lazard nor any of its affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or
otherwise) to any person who is not a client of Lazard in connection with this announcement or the
matters described in this announcement.
Deutsche Bank AG is authorised under German Banking Law (competent authority: European Central
Bank) and, in the United Kingdom, by the Prudential Regulation Authority. It is subject to supervision by
the European Central Bank and by BaFin, Germany’s Federal Financial Supervisory Authority, and is
subject to limited regulation in the United Kingdom by the Prudential Regulation Authority and Financial
Conduct Authority. Details about the extent of its authorisation and regulation by the Prudential Regulation
Authority, and regulation by the Financial Conduct Authority, are available on request or from
www.db.com/en/content/eu_disclosures.htm
Deutsche Bank AG, acting through its London branch (“DB”), is acting as corporate broker to AB InBev and
no other person in connection with this announcement or its contents. DB will not be responsible to any
person other than AB InBev for providing any of the protections afforded to clients of DB, nor for providing
any advice in relation to any matter referred to herein. Without limiting a person’s liability for fraud,
neither DB nor any of its subsidiary undertakings, branches or affiliates nor any of its or their respective
directors, officers, representatives, employees, advisers or agents owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or
otherwise) to any person who is not a client of DB in connection with this announcement, any statement
contained herein or otherwise.
In accordance with Rule 2.6(a) of the Code, AB InBev must, by not later than 5.00 p.m. on Wednesday 14
October 2015, either announce a firm intention to make an offer for SABMiller in accordance with Rule 2.7
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of the Code or announce that it does not intend to make an offer for SABMiller, in which case the
announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline will only
be extended with the consent of SABMiller and the Takeover Panel in accordance with Rule 2.6(c) of the
Code.
English, Dutch and French versions of this press release will be available on www.ab-inbev.com.
NOTES
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an
offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has
been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following
the commencement of the offer period and, if later, following the announcement in which any securities exchange
offeror is first identified. An Opening Position Disclosure must contain details of the person’s interests and short
positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities
exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later
than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if
appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which
any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree
company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must
instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant
securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person
deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must
contain details of the dealing concerned and of the person’s interests and short positions in, and rights to subscribe for,
any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent
that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b)
applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant
dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire
or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed
to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures
must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see
Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and
Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel’s website at
www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period
commenced and when any offeror was first identified. You should contact the Panel’s Market Surveillance Unit on +44
(0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a
Dealing Disclosure.
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Forward Looking Statements
This press release contains “forward-looking statements”. These statements are based on the current expectations and
views of future events and developments of the management of AB InBev and are naturally subject to uncertainty and
changes in circumstances. The forward-looking statements contained in this release include statements relating to AB
InBev’s proposal to the Board of SABMiller, and other statements other than historical facts. Forward-looking
statements include statements typically containing words such as “will”, “may”, “should”, “believe”, “intends”,
“expects”, “anticipates”, “targets”, “estimates”, “likely”, “foresees” and words of similar import. These forward-looking
statements may include statements relating to: the expected characteristics of the combined company; expected
ownership of the combined company by AB InBev and SABMiller shareholders; expected customer reach of the
combined company; the expected benefits of the proposed transaction; and the financing of the proposed transaction.
All statements other than statements of historical facts are forward-looking statements. You should not place undue
reliance on these forward-looking statements, which reflect the current views of the management of AB InBev, are
subject to numerous risks and uncertainties about AB InBev and SABMiller and are dependent on many factors, some of
which are outside of AB InBev’s control. There are important factors, risks and uncertainties that could cause actual
outcomes and results to be materially different, including that there can be no certainty that the approach in respect of
the proposed transaction described herein will result in an offer or agreement, or as to the terms of any such
agreement, and the risks relating to AB InBev described under Item 3.D of its Annual Report on Form 20-F (“Form 20-
F”) filed with the US Securities and Exchange Commission (“SEC”) on 24 March 2015. Other unknown or unpredictable
factors could cause actual results to differ materially from those in the forward-looking statements.
The forward-looking statements should be read in conjunction with the other cautionary statements that are included
elsewhere, including AB InBev’s most recent Form 20-F, reports furnished on Form 6-K, and any other documents that
AB InBev or SABMiller have made public. Any forward-looking statements made in this communication are qualified in
their entirety by these cautionary statements, and there can be no assurance that the actual results or developments
anticipated by AB InBev will be realized or, even if substantially realized, that they will have the expected consequences
to, or effects on, AB InBev or its business or operations. Except as required by law, AB InBev undertakes no obligation
to publicly update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise.
Notice to US investors
If AB InBev made an offer for SABMiller, then US holders of SABMiller shares should note that the steps of any
transaction requiring approval by SABMiller shareholders may be implemented under a UK scheme of arrangement
provided for under English company law. If so, it is expected that any shares to be issued under the transaction to
SABMiller shareholders would be issued in reliance upon the exemption from the registration requirements of the US
Securities Act of 1933, provided by Section 3(a)(10) thereof and would be subject to UK disclosure requirements (which
are different from those of the United States). The transaction may instead be implemented by way of a takeover offer
under English law. If so, any securities to be issued under the transaction to SABMiller shareholders will be registered
under the US Securities Act, absent an applicable exemption from registration. If the transaction is implemented by way
of UK takeover offer, it will be done in compliance with the applicable rules under the US Exchange Act of 1934,
including any applicable exemptions provided under Rule 14d-1(d) thereunder.
This filing shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any
sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means
of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
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ANHEUSER-BUSCH INBEV CONTACTS
Media Investors
Marianne Amssoms Graham Staley
Tel: +1-212-573-9281 Tel: +1-212-573-4365
E-mail: marianne.amssoms@ab-inbev.com E-mail: graham.staley@ab-inbev.com
Karen Couck Christina Caspersen
Tel: +1-212-573-9283 Tel: +1-212-573-4376
E-mail: karen.couck@ab-inbev.com E-mail: christina.caspersen@ab-inbev.com
Kathleen Van Boxelaer Heiko Vulsieck
Tel: +32-16-27-68-23 Tel: +32-16-27-68-88
E-mail: kathleen.vanboxelaer@ab-inbev.com E-mail: heiko.vulsieck@ab-inbev.com
Steve Lipin, Brunswick Group US
Tel: +1-212-333-3810
E-mail: slipin@brunswickgroup.com
Richard Jacques, Brunswick Group UK
Tel: +44-20-7404-5959
E-mail: rjacques@brunswickgroup.com
Financial Adviser - Lazard Corporate Broker – Deutsche Bank
William Rucker / Charlie Foreman Ben Lawrence / Simon Hollingsworth
Tel: +44 20 7187 2000 Tel: +44 20 7545 8000
About Anheuser-Busch InBev
Anheuser-Busch InBev is a publicly traded company (Euronext: ABI) based in Leuven, Belgium, with American
Depositary Receipts on the New York Stock Exchange (NYSE: BUD). It is the leading global brewer and one of the
world’s top five consumer products companies. Beer, the original social network, has been bringing people together for
thousands of years and our portfolio of well over 200 beer brands continues to forge strong connections with
consumers. This includes global brands Budweiser®, Corona® and Stella Artois®; international brands Beck’s®,
Leffe®, and Hoegaarden®; and local champions Bud Light®, Skol®, Brahma®, Antarctica®, Quilmes®, Victoria®,
Modelo Especial®, Michelob Ultra®, Harbin®, Sedrin®, Klinskoye®, Sibirskaya Korona®, Chernigivske®, Cass®, and
Jupiler®. Anheuser-Busch InBev’s dedication to quality goes back to a brewing tradition of more than 600 years and the
Den Hoorn brewery in Leuven, Belgium, as well as the pioneering spirit of the Anheuser & Co brewery, with origins in
St. Louis, USA since 1852. Geographically diversified with a balanced exposure to developed and developing markets,
Anheuser-Busch InBev leverages the collective strengths of its approximately 155 000 employees based in 25 countries
worldwide. In 2014, AB InBev realized USD 47.1 billion revenue. The company strives to be the Best Beer Company
Bringing People Together For a Better World. Learn more at ab-inbev.com, at facebook.com/ABInBev or on Twitter
through @ABInBevNews.
11
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