Interbrew SA, Belgium-based producer of Beck’s and Stella Artois beer, and Brazil’s AmBev (Cia de Bebidas das Americas) have completed a merger after both firms’ shareholders gave approval. The new company has been dubbed InBev.
AmBev shareholders also gave their blessing to the incorporation of Canada-based brewer Labatt as part of the merger with Interbrew. In a separate shareholders’ meeting in Sao Paulo, Brazil, these shareholders approved issuing 7.9 billion ordinary shares and 11.4 preferred shares to complete the incorporation of Labatt.
The purchase of AmBev, which ranks number one in Latin America, will create the world’s second-largest producer of beer behind Anheuser-Busch Companies. When the transaction is finished, Interbrew will have established a presence in six of the seven fastest-growing beer markets.