Inbev to cut jobs af­ter SABMiller merger

The Myanmar Times - - International Business -

THE world’s top brewer An­heuserBusch InBev will cut around 5500 jobs af­ter it com­pletes its huge merger with ri­val SABMiller.

In­vestor doc­u­ments posted on­line said the Bel­gium-based brewer of Bud­weiser and Stella Ar­tois would slash about 3 per­cent of its en­larged staff over three years fol­low­ing the tie-up.

SABMiller em­ploys about 70,000 em­ploy­ees in more than 80 coun­tries, while AB Inbev has about 150,000 staff in 26 coun­tries, ac­cord­ing to com­pany fig­ures.

AB InBev is al­ready the world’s top brewer and the SABMiller ac­qui­si­tion is in line to be the third­largest merger in his­tory.

A crunch vote by SABMiller share­hold­ers to clinch the deal is set for Septem­ber 28 with the com­pa­nies to be merged on Oc­to­ber 10.

The new of­fer val­ues the Lon­don-head­quar­tered firm at about US$104 bil­lion, and the deal is ex­pected to boost the uni­fied firms’ prospects in de­vel­op­ing mar­kets in Africa and China.

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