Megabrew holding company lists in Johannesburg as SABMiller prepares to leave the London Stock Exchange
The holding company for the Megabrew merger listed on the Johannesburg Stock Exchange (JSE) today, while SABMiller shares will be suspended in London tomorrow morning ahead of the long-awaited tie-up.
Newbelco SA/NV, which will be renamed Anheuser-Busch InBev SA/NV when the £79bn takeover completes next week, listed 1.7bn new ordinary shares on the main board of the JSE.
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The newly-merged brewing behemoth will be primarily listed on Euronext Brussels, with secondary listings on the JSE, the Mexico Stock Exchange and the ADSs arm of the New York Stock Exchange.
The companies expect the merger to be effective and combination to complete on 10 October, while listings of the combined group are due to be launched on 11 October.
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Last week the deal passed its final hurdle when shareholders at both AB InBev and SABMiller gave it a green light.
Around 5,500, or three per cent, of the combined workforce will be offloaded as a result of the tie-up.