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AB InBev to list on South African stock exchange
Anheuser-Busch InBev has announced plans to list on the Johannesburg Stock Exchange in January following its £71 billion takeover of SABMiller.
Confirming approval this morning by the Financial Surveillance Department of the South African Reserve Bank and the JSE for a secondary listing in South Africa, AB InBev said the move demonstrates its commitment to both South Africa and the wider African continent, which its said would be a “critical driver of future growth for the company following its proposed combination with SABMiller”.
“We are pleased to announce our plans to establish a secondary inward listing of AB InBev on the JSE”, said Carlos Brito, chief executive of AB InBev, which owns Stella Artois and Budweiser among its brands, said in a statement. “The listing will provide us with access to the South African investor base and broaden participation in AB InBev’s strong prospects for future growth.
“The secondary listing is also an important step towards our proposed combination with SABMiller, and signals our commitment to South Africa, and the African continent.”
The announcement follows the completion of its £71 billion merger with SABMiller, which was the first industrial company to list of the JSE in 1897. SAB Miller and AB InBev confirmed on 11 November that the £71bn mega deal would go ahead. Following the listing, SAB Miller is expected to delist from the London Stock Exchange and parts of AB InBev’s business, including Peroni, Grolsch and Meantime, will be sold off.