SABMiller could spin off more European assets

Brewing giant SABMiller is set to spin off its businesses in central and eastern Europe, as part of the package of commitments being agreed between its suitor AB InBev and the European Commission.

The FTSE 100 firm confirmed these divestments are in addition to the agreed sale of Peroni, Grolsch, Meantime and their associated businesses to Asahi.

AB InBev’s package of commitments involve the sale of Dreher Breweries in Hungary, Kompania Piwowarska in Poland, Plzenský Prazdroj and Pivovary Topvar in the Czech Republic and Slovakia, and Ursus Breweries in Romania.

The businesses include a number of local leading brands, with AB InBev expecting to attract “considerable interest” from potential buyers.

"SABMiller's central and eastern European businesses have been a core part of our growth story since we first embarked on our international expansion strategy over 20 years ago,” said SABMiller chief executive Alan Clark.

“We are very proud of these businesses, their brands and the people that have made them the successes they are today, and we will continue to grow and support them throughout this process."

The proposed divestments remained subject to review and approval by the EC, and would be conditional upon completion of the AB InBev acquisition of SABMiller.

It is expected that the European Commission will publish the outcome of its phase one investigation into the merger on by 24 May.