USA: Altria Group increases its share in AB InBev

Altria Group, Inc. (a DiversityInc Noteworthy Company) filed a Schedule 13D with the U.S. Securities and Exchange Commission disclosing open market purchases of Anheuser-Busch InBev SA/NV (AB InBev) ordinary shares subsequent to the closing of the business combination with SABMiller, DiversityInc reported on November 21.

In November 2015, AB InBev and SABMiller announced their agreement to combine. On October 10, 2016, the transaction closed allowing Altria’s continued participation in the global beer profit pool. From October 11 through October 21, Altria purchased approximately 12 million ordinary shares of AB InBev. Including these shares, Altria now has approximately 10.2 percent ownership of AB InBev, and two seats on its Board of Directors.

Altria’s increased investment in AB InBev supports its strategy of managing diverse income streams to deliver consistent financial performance over time. In addition, for ownership levels at or above 10 percent, Altria is entitled to foreign tax credits available in connection with the dividends Altria receives from AB InBev, as it was with its former SABMiller investment.

Altria Group owned and operated Miller Brewing until 2002, when Miller Brewing merged with South African Breweries plc, forming the world’s second-largest brewer, SABMiller. Altria retained approximately 27 percent economic interest in SABMiller.

22 November, 2016